BELMOND, Iowa- A plant in northern Iowa's Wright County that manufactures engine valves is closing, putting nearly 200-employees out of work. The Eaton Corporation factory in Belmond tells WHO Radio News they'll close the plant next year, and the work will be moved to other Eaton plants in Iowa, Nebraska, and Minnesota.
The company released the following statement:
- Members of Eaton’s management team met with the 184 employees at the Belmond, Iowa engine valve facility today to let them know the facility will close by the end of 2020.
- This difficult decision in no way reflects on the hard work of the people in this facility, and we are acutely aware of the impact this type of announcement has on our valued employees and their families. We are committed to acting with care and concern for the Belmond employees and are offering services and support to help them during this transition.
- The decision to close the Belmond facility was made because we were unable to compete for new and replacement heavy duty engine valve production.
- The timing of the impact will vary by employee and job responsibility; however, no roles are planned to be eliminated until 2020. Affected employees will receive 60-days advanced notice of their positions being eliminated.
- Eaton will be providing eligible employees with severance benefits to support in their transition, including increased production incentives during the transition period and outplacement services. All employees are eligible and highly encouraged to apply for roles at other Eaton locations.
- The work being done at the Belmond facility will be transferred to other Eaton facilities.
- We will work closely with our customers so there is no impact on their business operations.
- To support the community during this transition, Eaton is increasing its charitable contributions to the Belmond community over the next two years, which Belmond employees can allocate to local organizations of their choosing.
- We will also be working closely with the local economic development team during the transition period to determine the best possible future use for this facility.