Another industrial employer is closing shop in Lenoir
Seco Tools announced to its employees Tuesday afternoon that the Lenoir City plant will
close its doors within the next year, taking with it more than 70 local jobs.
City operations will be consolidated into other factories, meaning local jobs will be phased out
over the coming year, according to Loudon County Economic Development Agency Board Chairman Eddie
"No one knows yet who is going or how many will be going to start with. They think
they will have everyone phased out by 2014," Simpson said.
Plant Manager Hans Rydvall and
Loudon County Economic Development Agency President Pat Phillips could not be immediately
Simpson said the closing is in response to the economy.
"It's just because of
the economy. Like a lot of other companies they have the capability of doing it somewhere else.
... They will move the equipment and some of the employees I guess if they want to transfer they
can, but right now they are just going to phase it out a little at a time and move it to other
plants," Simpson said. "It just wasn't good news for our community, but it's out of our
Simpson said the plant has already turned down EDA incentives to stay in the
"We made an offer unofficially and they said it wouldn't help them any," Simpson said.
"The employees, I understand they offered a concession on their wages and they said it wouldn't
help the situation. They are just set on having to leave."
Simpson said the EDA does have
plans to market the local factory's building for future industries. "It's a good building.
Someone will end up taking it back I'm sure," he said.
According to Seco Tool's website,
the Lenoir City facility produces milling cutters, turning tools, indexable insert drills and
custom tooling solutions.