May 21, 2020 5:36 PM

Forest City factory sends notice it could close by summer

Posted May 21, 2020 5:36 PM

By ALISA NELSON

Missourinet

A northwest Missouri manufacturer has notified the state that it may reduce its workforce this summer. Battery maker Exide Technologies has started Chapter 11 bankruptcy proceedings while trying to arrange the sale of the company. Exide’s plant in Forest City is hoping to avoid laying off 85 workers.

“If the Company does not enter into an agreement with a purchaser to sell the business, the Company currently expects that it will be forced to conduct reductions-in-force or plant closings. Alternatively, if the Company does enter into an agreement with a purchaser to sell the business, the purchaser may elect not to continue to operate the business as a going concern or to offer employment to all of the Company’s employees,” the letter to the state says.

The notice from Exide to the mayor of Forest City and the state says that if layoffs do occur, they could be permanent and happen towards the end of July.

The company has also notified the union representing the workers.

Forest City is a town of about 250 people.

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May 21, 2020 5:36 PM
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