One manufacturing plant is closing, which means several Connecticut manufacturing jobs will be lost.
Derby Cellular Products Inc. plans to close this July, eliminating almost 100 Connecticut jobs. The company, which is the largest manufacturing plant in Derby, has sold its assets to LTI Flexible Products, a Georgia-based manufacturer, according to an article by the Hartford Courant.
The company gave employees and government officials the required 60-day notice before closing. Some employees who are laid off will have the opportunity to interview for positions in Georgia.
The company has been facing a combination of declining sales and high costs for electricity, medical insurance and raw materials, among other things. Demand for the company’s product also has decreased, despite keeping customers like Whirlpool and General Electric.
Stanadyne Corp., based in Windsor, also recently announced its plans to close its headquarters, eliminating 250 jobs. The company produces fuel injection systems for engines. Stanadyne plans to keep its head office, development and other operations in place.
Connecticut‘s manufacturing industry employed 176,800 workers during March, according to the United States Department of Labor Bureau of Labor Statistics. This is down from 180,800 workers during February and a 6 percent decrease from last year.
Overall, the state had a total non-farm employment of 1,651,400 workers during March, down from 1,658,500 workers during February and a 3.4 percent decrease from last year. Connecticut’s unemployment rate increased from 7.4 percent to 7.5 percent during March.