08 May Fibrebond Corporation Announces Closure of Edelstein, Ill., Facility by August 2019
MINDEN, La. – Fibrebond Corporation, the manufacturer of engineered-to-order structures for the data center, petrochemical, power and telecom markets, announced today that it will consolidate manufacturing operations and close its Edelstein, Ill., facility, located approximately 15 miles north of Peoria, Ill., by August 2019.
Fibrebond purchased the assets of the Illinois-based genset enclosure manufacturer, International Supply Company, three years ago to provide custom power integration and packaging solutions for prime, backup and critical grade customers. After a comprehensive analysis of manufacturing operations, Fibrebond decided to pursue alternatives for the Edelstein site.
Fibrebond will either sell the Edelstein facility or discontinue operations at the site by August 2019. The company seeks to sell the facility to another company that builds genset enclosures and needs the Edelstein team’s talents. To the extent possible, Fibrebond would like to minimize the disruption to the employees this affects.
“This decision is not easily made. Fibrebond strives to be a business that treats people fairly and offers meaningful opportunities to people. During this transition, we will treat employees in Edelstein with all the respect they deserve,” said Graham Walker, Fibrebond President and CEO. “The leadership team and I have not made this decision lightly, but it gives all of us the greatest opportunity for success going forward.”
Fibrebond will continue to focus on larger genset projects from its Louisiana operation, but the custom genset market that has been Edelstein’s specialty is not sustainable for the company at this time. Another company could be successful in Edelstein, and Fibrebond is committed to finding the right company for that opportunity.
For full-time Edelstein employees who work through August, stay bonuses will be paid. Fibrebond will offer some employees positions to remain with the company, and coordinate career placement services for remaining employees if Fibrebond does not find a buyer for the facility. In all, this decision impacts approximately 40 full-time employees.
Fibrebond (www.fibrebond.com) has led the way in developing innovations in construction using precast concrete and steel for more than 35 years. Fibrebond develops complex integrated solutions to protect sensitive electrical and mechanical equipment for the data center, petrochemical, power and telecom markets. The company, based in Minden, La., has been family-owned throughout its history.