Longtime Iredell County manufacturing plant closing, leading to 200-plus layoffs

TROUTMAN, N.C. — A longtime manufacturing plant in Iredell County will close next spring, leading to job cuts for more than 200 employees.

Keystone Powdered Metal Co. said in a Worker Adjustment and Retraining Notification (WARN) on Aug. 30 that it will permanently close its plant at 250 Old Murdock Road in Troutman, about 37 miles north of Charlotte. A total of 217 workers will be impacted by the closure.

The layoffs will occur in waves, starting on Nov. 1 when 45 workers will lose their jobs. Another 67 workers will be laid off Dec. 1, 33 will be laid off Feb. 1 and 72 will be laid off April 1. The plant’s employees are not in a union, Keystone said in its letter.

Keystone Powdered Metal Co. is a subsidiary of Sumitomo Electric Industries, which was founded in 1897 and is based in Osaka, Japan.

The company did not give a reason for the closure in its layoff notice. Messages left with Keystone and Sumitomo Electric were not immediately returned.

Read more here.

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