Wednesday, Jun 29, 2016
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Assets at Ohio Chrysler plant to be liquidated

TWINSBURG, Ohio — A Canadian company trying to attract new businesses to a soon-to-be closed Chrysler factory in Ohio has come up short.

Maynards Industries Ltd. of Vancouver says it can't find another company to move in to the stamping plant in Twinsburg, Ohio, and plans to auction the facility's equipment and remaining assets in September. Maynards is a liquidation company that bought the plant in March for $45.5 million.

Chrysler plans to end production at the plant at the end of June, at which point it will lay off 206 workers. The last 77 workers will stay on until the end of July.

About 1,000 people worked at the plant when Chrysler announced shutdown plans last year, but retirements and buyouts have trimmed the work force. The factory takes steel sheets and presses them into door panels and other parts.

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