ALGOMA, WI (WTAQ) – The parent company of Algoma Hardwoods has announced they will be closing down its plant.
Masonite International made that announcement while revealing the company’s quarterly earnings report.
“We announced a plan to close one manufacturing facility in the Architectural segment which is expected to improve our cost structure, expand operational efficiencies and align our plant optimization portfolio. These actions are expected to be completed by the end of third quarter of 2017. Total restructuring costs associated with the restructuring plan are expected to be $4.8 million,” said Fred Lynch, President and CEO.
Masonite acquired Algoma in 2012, according to the company’s website.
The Wisconsin Department of Workforce Development says about 180 employees will be affected in phases over the next 200 days. Operations will cease on August 31, 2017.
The Bay Area Workforce Development Area Rapid Response Team will offer services to the company, employee representatives and affected workers.
