Grede will stop production at its Radford foundry at the end of December, the company announced Thursday.
Just under 250 employees work at the Radford facility.
"We are extremely saddened by the decision to have to end operations at the Radford facility,” said Richard Pacini, the company’s public relations person. “We also have many friends who work there. In the end this was a purely business decision.”
Part of the reason for the closure is a furnace fire in May 2012, Pacini said. The furnace is just one of two at the foundry. Pacini said the fire, along with a sagging economy, was the beginning of the company’s troubles.
A new furnace was ordered, but Pacini did not know if it was actually delivered to the plant.
Some of the employees at the Radford plant will be given an opportunity to apply at other Grede sites across the country. Grede's headquarters are in Southfield, Michigan. According to its website, Grede is a “supplier of innovative metal components to the transportation and industrial markets.”
Limited production will continue to take place at Grede until the end of December. Salaried employees will get a severance package.
The Radford facility is located at 1701 West Main Street.