After an extensive study, Gates Corp., Denver, CO, is restructuring its belt manufacturing facilities in North America and closing its Moncks Corner, SC, belt plant. Production from the plant will be absorbed into its other North American belt production facilities.
We are in a very competitive business, both here and internationally. We regret having to consider any plant closing,"said Brian Harris, president of Gates Power Transmission Group. "The closure is not a reflection on the performance of plant employees or plant operations. Moncks Corner has been in operation for a long time, and we respect and appreciate our longstanding relationship with our employees and the community."
The Moncks Corner plant closing is expected to be complete in the first quarter of 2009.
Gates Corporation is a manufacturer of industrial and automotive products, systems and component with operations in 25 countries. Gates maintains sales and marketing operations in every major industrial and automotive market, including North and South America, Europe, Asia, Australia and the Gulf Region. Gates is part of the Industrial &Automotive group of Tomkins plc.