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Radford company announces job cuts

RADFORD — Only months after its parent company filed for Chapter 11 Bankruptcy, a Radford manufacturer linked to the automotive industry has announced up to 140 workers may be laid off in January.
According to the Virginia Workforce Network, Intermet New River Foundry notified employees of the potential layoff Nov. 21.
The foundry is one of two New River Valley companies which recently announced job cuts, according to the workforce network.
Acument Global Technologies, a Wytheville company that also manufactures parts for the automotive industry, will close next year, eliminating 160 jobs in that area, the workforce network shows.
A spokesman for Acument told Associated Press yesterday that the closing is due to “very difficult automotive industry conditions.” Timothy Weir said sales and use of plant capacity are down, and employment has declined steadily from 200 jobs last year to 162.
The heads of U.S. automakers are returning to Congress today for hearings in which they hope to receive $34 billion in emergency federal aid to keep them out of bankruptcy.
According to Intermet’s website, it is “one of the world’s foremost producers of cast-metal components for automotive and commercial-vehicle manufacturers.”
New River Foundry already laid off 56 employees in August. At that time, plant officials said the company still had 160 employees.

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Radford company announces job cuts

RADFORD — Only months after its parent company filed for Chapter 11 Bankruptcy, a Radford manufacturer linked to the automotive industry has announced up to 140 workers may be laid off in January.
According to the Virginia Workforce Network, Intermet New River Foundry notified employees of the potential layoff Nov. 21.
The foundry is one of two New River Valley companies which recently announced job cuts, according to the workforce network.
Acument Global Technologies, a Wytheville company that also manufactures parts for the automotive industry, will close next year, eliminating 160 jobs in that area, the workforce network shows.
A spokesman for Acument told Associated Press yesterday that the closing is due to “very difficult automotive industry conditions.” Timothy Weir said sales and use of plant capacity are down, and employment has declined steadily from 200 jobs last year to 162.
The heads of U.S. automakers are returning to Congress today for hearings in which they hope to receive $34 billion in emergency federal aid to keep them out of bankruptcy.
According to Intermet’s website, it is “one of the world’s foremost producers of cast-metal components for automotive and commercial-vehicle manufacturers.”
New River Foundry already laid off 56 employees in August. At that time, plant officials said the company still had 160 employees.

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