Thursday, Jun 30, 2016
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Economy

Hillsdale firm's parent files for bankruptcy

HILLSDALE - EaglePicher, parent company of one of Hillsdale's leading manufacturers, has filed for bankruptcy under Chapter 11.

The company's struggling Hillsdale Tool and Manufacturing division, where 400 employees make engine, transmission, and driveline components, has been a key factor in the bankruptcy, said Bert Iedema, president and chief executive officer of the company headquartered in Phoenix.

He cited increased competition, difficult labor contracts, high fuel and steel prices, and a decrease in business as reasons for the filing for protection from creditors. The firm will not be going out of business, he said.

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