LOUDON, Tenn. (WVLT) -- Maremont, an exhaust manufacturing and distribution facility in Loudon, will be shutting down next month. The company's 150 employees were notified Friday morning, according to IMCO Vice-President & GM Jim Kosar.
He said the decision to close came after the company lost its largest customer.
Kosar added that some of the company's assets will be sold and they already have a buyer. He would not identify the buyer nor would he say if the owner would be retaining any employees.
The company's employees were given 30 days notice, in compliance with the Warren Act. Any severance is yet to be determined.
To comment, the following rules must be followed:
Comments may be monitored for inappropriate content, but the station is under no legal obligation to do so.
If you believe a comment violates the above rules, please use the Flagging Tool to alert a Moderator.
Flagging does not guarantee removal.
Multiple violations may result in account suspension.
Decisions to suspend or unsuspend accounts are made by Station Moderators.
Links require admin approval before posting.
Questions may be sent to email@example.com. Please provide detailed information.