2 companies closing in Vt townMarch 28,2014
LYNDONVILLE — Two companies in the town of Lyndonville are planning to close.
Pennsylvania-based Kennametal said it’s closing the Vermont plant, for a loss of 80 jobs.
The company said it made the decision in light of changing demand for its products. Kennametal produces tools for metalwork, mining and construction.
Family-owned Vermont Flexible Tubing Co. is planning to close Tuesday. Co-owner Marvin Smith said younger family members weren’t interested in taking over the business, which has nine workers.
Despite the closings, there’s hope for new manufacturing jobs. David Snedeker, executive director of the Northeastern Vermont Development Association, said there are plans by the company AnC Bio for a plant in Newport and airplane manufacturer Flight Design USA to operate in nearby Coventry.MORE IN This Just In
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