Wednesday, July 17, 2024

Loparex closing Eden plant, 91 employees losing jobs

Cary-based Loparex announced Thursday it would close its manufacturing plant in Eden over the next six months resulting in the loss of 91 jobs.

The layoffs will occur over two phases, with the first beginning May 1 and the second occurring Sept. 1.

The company uses silicone in the manufacturing of release liner solutions on a variety of paper and film substrates used in healthcare and other industries, including food labeling, hygiene, tapes, graphics, waterproofing and other uses.

“This decision was a difficult one and has been given significant thought and consideration. I recognize the deep history of the Eden site and the dedication of our employees there” says Rich Holder, Loparex CEO, in a statement. “Providing transition support to these employees is a top priority for us.”

In addition to advance notice, Loparex will offer all affected employees a range of resources to support their transition to new employment. This includes connecting them with local employers and agencies that can help them secure new opportunities. 

Holder joined Loparex in January after previously serving as CEO for Morrisville-based HZO since February 2021. He had previously been CEO of Johnson City, Tennessee-based NN, which manufactured metal bearing components as well as plastic and rubber products used in global markets. Holder replaced Charmaine Riggins, who was promoted to CEO in January 2022 after joining the company the year before.

Existing Loparex manufacturing sites in Hammond, Wisconsin, and Iowa City, Iowa, will be utilized to maintain a seamless supply of release liners to customers.   

Rockingham County had an unemployment rate of 3.5% in December 2023, compared to 3.7% in December 2022.

Private equity firm Pamplona Capital Management acquired Loparex in 2019.

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