Carthage-based Fortune 500 company Leggett & Platt announced it is closing its Precision Industries plant in Malvern, Ark.:
Ricke Teague, vice president of human resources with Leggett & Platt, which is North America's largest producer of custom aluminum products, explained the company's decision to KTHV-TV, Channel 11.
"The decision to close the Malvern operation was based on a number of factors, including the fact that it has been losing money, margins have been eroded by global competition and there have been inefficiencies we have been unable to overcome," Teague said. "The state Dislocated Workers Task Force has been contacted and is working with local management to assist workers with the transition to other jobs. Management is also working with the United Auto Workers Local 415 to determine what additional measures may be taken to cushion the impact on employees."
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