July 10, 2018

Technetics to close Oxford manufacturing site, lay off 97 workers

Courtesy | Technetics

Gas turbine component manufacturer Technetics will lay off 97 workers by the end of August when it closes its Oxford facility.

The South Carolina company, a subsidiary of North Carolina-based Enpro Industries, said in a statement to the WBJ market conditions were driving the closure.

Remaining manufacturing operations will be consolidated at other U.S. locations. According to its website, Technetics operates locations in South Carolina, Pennsylvania, Texas, California and two in Florida in addition to three in Europe and one in Singapore.

Technetics is encouraging the affected workers to apply for positions at other locations, and a consulting firm has been hired to offer free career guidance to employees.

According to land records, the company's property on Old Webster Road was purchased by Oxford laser manufacturer IPG Photonics for $26 million.

That land, about 10 acres including a 20,000-square-foot building, is in addition to two February land purchases IPG made in Oxford totaling $1.1 million. In that same month, the company bought about 13 acres in Marlborough for $1.8 million.

In May, IPG Photonics told the WBJ it is planning a 960,000-square-foot, $215-million expansion of its current facility on Old Webster Road, which abuts the Technetics site.

That project will create 500 new jobs, and IPG has already reached out to Technetics about retaining some of their affected workers, according to James Hiller, vice president of investor relations with IPG.

Acting Town Manager Dennis Power said the town is saddened by the company's departure, which he said began as a start-up in Oxford more than 30 years ago.

"It's somewhat comforting to know that the building will be occupied by IPG and that they may help ease the burden of those losing their jobs by incorporating them into the IPG family," Power said.

Comments

Type your comment here:

Today's Poll Will there be alcohol at your company holiday party? <>
ADVERTISEMENTS
Most Popular on Facebook
Copyright 2017 New England Business Media