Waterbury Cos. Inc., one of the oldest U.S. injection molders, plans to close its Randolph molding plant in the next six months.
The company molds professional hygiene and janitorial products.
According to a news release, President Carl D. Contadini informed the 70 employees of the plan July 17. The first layoffs will happen in about two months.
The release cited globalization trends, economic conditions and price pressures as the major factors to redirect manufacturing to other locations. The company did not say where it will move the work.
Waterbury, which is based in Waterbury, Conn., underwent a management buyout led by Contadini in August 1998. They purchased the company from Carpenter Technology Corp. of Reading, Pa.
Waterbury's button division was founded in 1812 and years later was one of the first U.S. companies to injection mold plastic, according to the book Plastics History - U.S.A. by J. Harry DuBois. Its metal button division supplied buttons to both the Union and Confederate armies during the Civil War.