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Posted: 11:50 AM Oct 29, 2009
Auto-Castings Foundry in VA to Close
RUSTBURG, Va. (AP) Auto-castings maker Intermet plans to close its Archer Creek Foundry and lay off 192 workers.
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Auto-castings maker Intermet plans to close its Archer Creek Foundry and lay off 192 workers.
The company informed Campbell County officials of its plans Wednesday, according to County Administrator David Laurrell.
Intermet makes heavy iron castings for the automobile industry. It filed for bankruptcy protection last year as automobile sales plunged.
In the summer, a bankruptcy judge approved a motion for Revstone Industries, a Kentucky company, to buy the Archer Creek Foundry and other Intermet facilities.
However, that sale fell through, and in September the bankruptcy court ordered a liquidation of all of Intermet's assets, bankruptcy documents show.
©2009 The Associated Press. All rights reserved.
