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AUDIO Twinsburg Stamping Plant Sold
 3/10/2010 6:57:11 PM  |  Aaron Coleman, AkronNewsNow.com

A Canadian company has bought Chrysler's Twinsburg stamping plant for a healthy amount of money.



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The plant was bought by Canadian -based company Maynards Industries Ltd. for $45.5 million dollars in U.S bankruptcy court in New York.

UAW Local 122 President Doug Rice explains what he feels is the company's reasoning behind the purchase.

"It looks like the company's reasoning for buying the place is the quality of equipment, and to sell it on a worldwide market."

 
Rice says that the workers and the equipment manufactured in the plant drew a lot of interest from potential buyers.

"There was a lot of interest because of the people and the equipment and the fact that those workers held their heads up and were proud of the plant's achievements as well as their own."

Bankruptcy reports showed 31 companies were looking to buy the stamping plant, which closed last year.
 
One of the companies interested in the plant was Twinsburg Industrial Park LLC, who bid 27.5 million dollars for the 195 acre property, as well as Cleveland based Park Corporation.

UAW Local 122 President Doug Rice was not shy in expressing his feeling over the plant's new buyer

"I'm not happy about it one little bit," Rice said. "It's a sad day for American manufacturing."

The plant was Twinsburg's largest private employer with over 1,000


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posted at 3/11/2010 7:47:47 AM (20456)
kala said:
sad. I feel so bad for those who lost their jobs

posted at 3/11/2010 11:13:14 AM (20461)
 historybuff said:
No jobs. The further work of a speculation firm. Nice.



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