WILMINGTON, NC (WWAY) -- A Wilmington manufacturing plant will close by the end of the year putting about 90 people out of work, according to a statement from the company.
Terex Cranes, at 202 Raleigh Street, will shut down its production facilities in Wilmington. The plant is a fabrication and assembly facility for tower cranes and small crawler cranes. The company says service and aftermarket support for these product lines will remain in Wilmington for the foreseeable future. Parts will be housed in Mississippi.
Terex says approximately 90 employees will be laid off, including about 60 production workers. The rest are administrative positions. For union-represented team members, all terms of labor contracts will be honored, and for other team members, severance pay and outplacement assistance will be provided.
"While the economy is beginning to improve, manufacturing capacity is greater than needed to meet foreseeable market demand," Terex president Kevin Bradley said in a statement. "The decision to cease plant operations in Wilmington was not an easy one, because we know this action affects team members and their families. However, we have determined that discontinuing production at Wilmington is the right decision for our business as we continue to consolidate our manufacturing footprint, consistent with the needs of our global customer base."
Terex purchased the Wilmington facility from American Crane in 1998.
In March 2009 Terex announced the layoff of 30 workers at the plant because of a continued decrease in the global crane market.