LM Glasfiber will layoff 150

LM Glasfiber will layoff 150

Wind blade maker, LM Glasfiber announces it will lay off more than 150 workers in Little Rock.
Wind blade maker, LM Glasfiber announces it will lay off more than 150 workers in Little Rock and shut down production at the Scott Hamilton facility in Southwest Little Rock. Managers say it's all because of a bad economy.

LM Glasfiber employee Tommie Luker got the news this morning. "Kind of shocked because they were talking about how much 2009 was looking good and all that. So, I wasn't expecting it," Luker says.

LM Glasfiber Vice President and General Manager Randy Fox says the reason the company is laying off workers is the credit crunch. “We've seen our customers back off orders pretty significantly over the last couple of months in particular,” says Fox. Fox says more than 150 white and blue collar employees from both the Scott Hamilton and the Port facilities in Little Rock will be let go. "The message we reiterated to our people this morning is this is not an employee issue, it's not an LM management issue, and it’s not an LM issue. It's unfortunate, but it's an economic issue. The demand has simply gone away and we have to adjust,” says Fox. With that adjustment 350 people will still have a job.

Right now, Luker hopes he's one of them. "Without our job, that's our livelihood. No other jobs to really get. [I] hope I make the cut."

The Scott Hamilton facility will still be used for small assembly and warehouse. Sixty employees from that location will move to the Port facility and will continue to manufacture blades from 5 to 7 days a week.

LM Glasfiber is the world's leading supplier of blades for wind turbines.

LM Glassfiber Press Release

LM Glasfiber, the world¹s leading manufacturer of blades for wind turbines,
is adjusting its capacity in Little Rock as a result of the credit crunch
now causing delays in wind projects due to more difficult financing
conditions. During 2008, the company has expanded rapidly in Little Rock but
is now preparing for weaker growth in the short term, and is taking needed
steps to assure a strong future for LM Glasfiber in Arkansas.

³We remain strongly committed to our North American operations, including
our new regional headquarters in Little Rock,² said Randy Fox, Vice
President General Manager, North America for LM Glasfiber. ³The toughest
thing is the immediate impact on some of our employees, who have been
instrumental with the launching of Little Rock¹s operations. These are
steps we truly wish we didn¹t have to take.²

The Scott Hamilton facility will be idled, with approximately 60 of its jobs
added to the Port Site to support a planned transition to a 24/7 operation.
The total number of reductions in Little Rock is estimated to be over 150,
with the company still employing over 350 in Arkansas and more than 1,300 in
North America. The transition will begin in approximately 60 days, Fox said.

Fox noted that the company¹s North American operations grew significantly in
2008. As a result of that growth, the Scott Hamilton facility, which was
originally intended to be a training center, was brought online as a
production plant to meet growing customer demand. But, due to the credit
crunch the company now predicts lower growth rates in the short term. The
reduction for volume out of the Arkansas operations does not support the
need to maintain Scott Hamilton as a production facility.

³The credit crunch is now causing project delays in developer¹s wind
projects due to more difficult financing conditions. As a natural result we
must take necessary steps to keep the company on the road to a solid,
sustainable future,² said Fox. ³The long-term outlook for wind is strong and
the U.S. is still the world¹s number-one wind energy market. We¹re confident
that the long term demand will rebound, and the difficult decisions being
made today will help put us in the best position to ramp back up when it
does.

LM Glasfiber is the world's leading supplier of blades for wind turbines.
The Group has more than 7,000 employees in nine countries, and our highly
specialised R&D organisation provides us with the most comprehensive
industry know-how on the development and production of rotor blades.
Boasting manufacturing facilities in Denmark, Spain, the USA, Canada, India
and China, LM Glasfiber is located in or close to the key geographic markets
for wind energy. Additional information is available at our website:
www.lmglasfiber.com.
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