LM Wind Power will be closing its turbine blade plant, located in Little Rock. Manufacturing is scheduled to cease soon with the site set to close by the end of the year.
The GE-owned plant is reportedly closing as a result of declining demand for the manufactured product. According to the company, COVID-19 was not a factor in the plant’s closure. This marks a shift for the company, which in 2017, announced plans to expand its operations to meet demand through 2021.
“Due to declining demand for the specific blades made at the Little Rock facility and the need to streamline operations, GE Renewable Energy today announced that we will close our LM Wind Power site in Little Rock, Arkansas,” a company spokesperson said.
The plant’s closure will impact roughly 470 employees, according to Recharge magazine. Employees will be receiving continued pay for at least four months and health insurance premiums through 2020.
“We understand that this is a difficult time to announce this decision and are taking a number of steps to provide additional support for our employees during this time, including continued pay for a minimum of four months,” according to the spokesperson.
LM Wind Power is based in Denmark but was purchased in a $1.65 billion deal by GE. The acquisition was announced in late 2016 and closed in 2017.
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