Creative Extruded Products LLC, which makes plastic and rubber moldings for the automotive glass market, is permanently closing.
The closures, effective Dec. 31, will result in a permanent layoff of 243 total workers, an Oct. 27 notice to the Ohio Department of Job and Family Services said.
"Until very recently, the employers believed that a sale of substantially all their assets to a buyer would result in a retention by the buyer of substantially all their employees," the notice said. "Unfortunately, this week the employers have learned that the potential buyer has decided to not further pursue the acquisition."
"An earlier loss of employment is possible because of unforeseeable business circumstances," it said.
In the event employees are laid off before Dec. 31, the notice said, "union employees will have bumping rights as determined under the applicable collective bargaining agreement."
The company filed two letters disclosing the layoffs, one for Creative Extruded Products in Tipp City, Ohio, and one for BTA Enterprises LLC in Dayton, Ohio. The Tipp City plant had 165 jobs, and the Dayton plant had 78 jobs, according to the letters.
The Tipp City-based company was founded in 1979 as an extrusion tooling manufacturer. It started making parts for automotive OEM fixed glass application in 1981, according to a company history on its website.
Private equity group Quilvest acquired Creative Extruded in 2017.
Quilvest and Creative Extruded did not immediately respond to separate requests for comment by Plastics News.
Creative Extruded has estimated profile extrusion sales of $40 million, according to Plastics News data.