Manitowoc (AP) — An executive with Manitowoc-based Koenig & Vits said the aluminum supplier has suspended operations indefinitely.
The company makes aluminum coils and sheets that customers mold into final products. The plant closed May 8. It had employed 86 people.
Company president Tim Martinez said the automotive industry is a large customer and his company is feeling the effects of that industry’s struggles.
Martinez said the company took the “pragmatic approach” of suspending operations rather than continue to lose money waiting for the market to rebound.
He said he’s optimistic about the five-year-old company’s future. He said there are few aluminum-rolling mills left in North America, so his company could benefit when demand recovers.