Windmill blade company plans layoffs
By The Arkansas Democrat-Gazette
Windmill turbine blades are lined up near the LM Glasfiber facility in the Little Rock Port area in this October 2008 file photo
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LM Glasfiber, the world’s largest manufacturer of windmill blades, plans to lay off more than 150 workers at its North American headquarters in Little Rock, the Danish firm said Tuesday.
LM Glasfiber is adjusting its capacity in Little Rock as a result of the credit crunch, the firm said. The slow economy is causing delays in wind projects because of more difficult financing conditions. The company will close its plant in southwest Little Rock and shift about 60 of those jobs to its plant at the Little Rock Port.
The company expanded rapidly last year but said in a news release Tuesday that it is now preparing for weaker growth in the short term.
“We remain strongly committed to our North American operations, including our new regional headquarters in Little Rock,” said Randy Fox, Vice President General Manager, North America for LM Glasfiber. “The toughest thing is the immediate impact on some of our employees, who have been instrumental with the launching of Little Rock’s operations. These are steps we truly wish we didn’t have to take.”
Read tomorrow's Arkansas Democrat-Gazette for full details.
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This article was originally published January 6, 2009 at 8:36 a.m.
Updated January 6, 2009 at 11:39 a.m.
