Milwaukee Tool plant in Arkansas closing

State news is reporting that the Milwaukee Tool plant at Blytheville, Arkansas is closing after more than 30 years of operation. Part of the operation will go to a facility in Jackson, Mississippi. But most of it will be moved to Hong Cong. The company is owned by Techtronics Industry Ltd. of Hong Cong. Two hundred forty people will lose their jobs to the Chinese plant. Merry Christmas. :soapbox:

Can you say New World Order?

Milwaukee has been foreign owned for at least 12 years if not more. The acquisition by TTI (Techtronic Industries Co. Ltd.) was almost three years ago. I guess the closing isn't too surprising - sad and the timing stinks, but not surprising.
Just as an aside, TTI was actually founded by a German-Austrian engineer. He still runs the company, and as Frank mentioned it is based in Hong Kong. Plus he was co-founder of Novatel Wireless - and is still on their board. Busy guy.

Some interesting reading for those inclined:


http://www.businessweek.com/magazine/content/03_23/b3836612.htm
http://www.milwaukeetool.com/us/en/...e-story/$FILE/MET_History2005.pdf?OpenElement
http://www.ttigroup.com/general/home.php

I hope the executives take care of the people they put out of work with decent benefits packages and training. I won't hold my breath though.

FWIW,
Wes

Wes said, "I hope the executives take care of the people they put out of work with decent benefits packages and training. I won't hold my breath though."
Wes, the news story did say that benefits were excellent. And, the final closing won't happen until December 2008. While that will give the employees some time to search for new jobs, the job market in that part of the state is very bad. Several manufacturing plants have closed in recent years. All jobs lost to overseas.
I believe the employees will be the least impacted. It is the ripple effect on the surrounding communities that will hurt the most. An Air Force base closed several years ago and that was a major blow.

December 2008, eh? That's much more generous than LOML's US owned company that is laying folks off after buying up another company and creating duplicate skill sets. A co-worker with 25 years got the heave-ho without warning among others. Merry Christmas.

Frank, I guess that is good news. Unfortunately, the typical experience is more like Glenn's. Thanks for the info.

Wes

Just last week they had that plant on Modern Marvels; a show on the History Channel. They were doing a show on Saw Blades and were showing how the famed Milwaukee Reciprocating Saw was made.

Sad indeed.

I buy domestic birch D-3 paint grade plywood at about $42.00 a 4 x 8. It is a better product than the china birch which is about $23.00 for the same 4 x 8. I hope it helps someone here in the states. Even with the price it helps me.
Shaz