Magnetation To Temporarily Close Plant 2 Jan. 18
Magnetation announced Wednesday it is implementing a temporary production curtailment at its Plant 2 facility in Bovey.
The production curtailment will occur on January 18, 2016.
Magnetation had previously announced the potential for this curtailment on November 18, 2015, in compliance with the U.S. Department of Labor’s Worker Adjustment and Retraining Notification (WARN) Act.
WARN Act notification is required 60 days in advance under certain circumstances when there is a potential for layoffs of more than 50 employees for a period in excess of six months.
“In these difficult market conditions, we must balance our current production with our customers’ needs to sustain our business. As a result, we have to make the necessary production adjustments and associated staffing reductions,” said Larry Lehtinen, CEO of Magnetation. “At this time, there is no way to predict how long this curtailment may last. We continue to work closely with the appropriate governmental agencies to assist all affected employees who are impacted by this operating curtailment.”