About 30 employees at Prime PVC lost their jobs Monday when the private-equity firm that controls the company announced to employees that it is shutting its doors.
Prime PVC, 1400 N. Washington St., is a longtime producer of plastic composites for industrial manufacturers.
The company was purchased about two years ago by Minnesota-based Spell Capital Partners, a private-equity firm, which specializes in the sales of established manufacturing and distribution companies. A spokeswoman at Spell's offices in Minneapolis said the company would not comment for this story.
Plant manager Brian Stolte, reached by phone Monday afternoon, also declined to comment.
Outside the plant after an afternoon meeting to announce the closure, workers were upset that the news came so suddenly.
"We just lost our livelihood," Chris Danforth said.
Employees said they were told in the meeting that there would be no severance package, they would not be paid for accrued vacation time and they would no longer have health insurance.
Another employee, Arthur Drake, said first-shift workers were to remain on the job for the rest of the week to finish a job, but the rest of the workers were dismissed immediately.
"They slammed the door in our face," Drake said.
Tony Slagle, the third-shift supervisor at the plant, said the company is also closing its plastic-manufacturing facilities in Kendallville and El Paso, Texas.
Slagle had worked at the plant for about six years. He said he had never been concerned about his job security working under the private-equity firm because workers were assured by Spell that their jobs were safe.
"They told us (when they bought the company) they weren't going to close it," Slagle said.
Drake said he hopes another area employer recognizes the strife dealt to Prime's 30 displaced workers and offers them another opportunity.
"I hope the other plastic company reads this article and feels sympathy for those of us who lost our jobs," Drake said.
Tim Eckerle, executive director of the Grant County Economic Growth Council, said he believed the company was looking at strategic alternatives to its Marion facility, though he had not been informed of any pending closure as of early Monday. He believed the plant's employment level to be less than 30.
Prime PVC received a five-year tax abatement from the Marion City Council in February 2004 for equipment purchased for its facility.
Eckerle said he didn't believe the abatement's expiration was related to Spell Capital's decision to close the company.
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