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ac precision will close, receiver confirmsac precision will close, receiver confirmsac precision will close, receiver confirms
by：Zhuangao
2019-12-20
CAMBRIDGE —
The receiver handling the assets of the Cambridge AC precision parts injection molding plant confirmed on Thursday that the plant will be closed.
Alan Ruttman, president, Zeifman Partners Inc.
Due to the company\'s difficulty in repaying its debts, the company was appointed receiver of May, which said it was completing the contract and gradually ending its operations.
According to the work currently in progress, Ruttman said he expects production to be completed in late summer or early autumn.
After that, the equipment at Eagle Street factory will be cleared, he said.
About 40 people have been fired this week, and 60 others have to finish the job.
\"We are trying to meet the needs of our customers and get people to work as long as possible, but this is a final game,\" Ruttman said . \".
\"We always try to see if we can find people to buy these industries, but unfortunately the automotive industry is not an attractive investment opportunity today,\" he said . \".
In addition, customers want to see a viable business, and when recipients get involved, they usually try to move the business elsewhere, he said. Long-
Factory employees who were fired last week said they were told they would not receive severance pay because the company was in the bankruptcy management phase and the worker was not a secured creditor.
The business used to be part of the precision component group of ATS Automation tool systems.
The group, which produces plastic parts for the automotive, medical, consumer and electronics industries, hired more than 600 people in 2007.
But with the recession and the decline in car sales, the number of Labor has fallen.
The sharp drop in sales led to ATS selling the group early last year, and Anderson subsequently acquired an injection molding plant with more than 100 employeesCook Inc.
The company is headquartered in Clinton, Michigan.
Last fall, the operation moved from the ATS campus in Fountain Street to a building in Eagle Street.
Rsimone @ township enterprises. comCAMBRIDGE —
The receiver handling the assets of the Cambridge AC precision parts injection molding plant confirmed on Thursday that the plant will be closed.
Alan Ruttman, president, Zeifman Partners Inc.
Due to the company\'s difficulty in repaying its debts, the company was appointed receiver of May, which said it was completing the contract and gradually ending its operations.
According to the work currently in progress, Ruttman said he expects production to be completed in late summer or early autumn.
After that, the equipment at Eagle Street factory will be cleared, he said.
About 40 people have been fired this week, and 60 others have to finish the job.
\"We are trying to meet the needs of our customers and get people to work as long as possible, but this is a final game,\" Ruttman said . \".
\"We always try to see if we can find people to buy these industries, but unfortunately the automotive industry is not an attractive investment opportunity today,\" he said . \".
In addition, customers want to see a viable business, and when recipients get involved, they usually try to move the business elsewhere, he said. Long-
Factory employees who were fired last week said they were told they would not receive severance pay because the company was in the bankruptcy management phase and the worker was not a secured creditor.
The business used to be part of the precision component group of ATS Automation tool systems.
The group, which produces plastic parts for the automotive, medical, consumer and electronics industries, hired more than 600 people in 2007.
But with the recession and the decline in car sales, the number of Labor has fallen.
The sharp drop in sales led to ATS selling the group early last year, and Anderson subsequently acquired an injection molding plant with more than 100 employeesCook Inc.
The company is headquartered in Clinton, Michigan.
Last fall, the operation moved from the ATS campus in Fountain Street to a building in Eagle Street.
Rsimone @ township enterprises. comCAMBRIDGE —
The receiver handling the assets of the Cambridge AC precision parts injection molding plant confirmed on Thursday that the plant will be closed.
Alan Ruttman, president, Zeifman Partners Inc.
Due to the company\'s difficulty in repaying its debts, the company was appointed receiver of May, which said it was completing the contract and gradually ending its operations.
According to the work currently in progress, Ruttman said he expects production to be completed in late summer or early autumn.
After that, the equipment at Eagle Street factory will be cleared, he said.
About 40 people have been fired this week, and 60 others have to finish the job.
\"We are trying to meet the needs of our customers and get people to work as long as possible, but this is a final game,\" Ruttman said . \".
\"We always try to see if we can find people to buy these industries, but unfortunately the automotive industry is not an attractive investment opportunity today,\" he said . \".
In addition, customers want to see a viable business, and when recipients get involved, they usually try to move the business elsewhere, he said. Long-
Factory employees who were fired last week said they were told they would not receive severance pay because the company was in the bankruptcy management phase and the worker was not a secured creditor.
The business used to be part of the precision component group of ATS Automation tool systems.
The group, which produces plastic parts for the automotive, medical, consumer and electronics industries, hired more than 600 people in 2007.
But with the recession and the decline in car sales, the number of Labor has fallen.
The sharp drop in sales led to ATS selling the group early last year, and Anderson subsequently acquired an injection molding plant with more than 100 employeesCook Inc.
The company is headquartered in Clinton, Michigan.
Last fall, the operation moved from the ATS campus in Fountain Street to a building in Eagle Street.
Rsimone @ township enterprises.
The receiver handling the assets of the Cambridge AC precision parts injection molding plant confirmed on Thursday that the plant will be closed.
Alan Ruttman, president, Zeifman Partners Inc.
Due to the company\'s difficulty in repaying its debts, the company was appointed receiver of May, which said it was completing the contract and gradually ending its operations.
According to the work currently in progress, Ruttman said he expects production to be completed in late summer or early autumn.
After that, the equipment at Eagle Street factory will be cleared, he said.
About 40 people have been fired this week, and 60 others have to finish the job.
\"We are trying to meet the needs of our customers and get people to work as long as possible, but this is a final game,\" Ruttman said . \".
\"We always try to see if we can find people to buy these industries, but unfortunately the automotive industry is not an attractive investment opportunity today,\" he said . \".
In addition, customers want to see a viable business, and when recipients get involved, they usually try to move the business elsewhere, he said. Long-
Factory employees who were fired last week said they were told they would not receive severance pay because the company was in the bankruptcy management phase and the worker was not a secured creditor.
The business used to be part of the precision component group of ATS Automation tool systems.
The group, which produces plastic parts for the automotive, medical, consumer and electronics industries, hired more than 600 people in 2007.
But with the recession and the decline in car sales, the number of Labor has fallen.
The sharp drop in sales led to ATS selling the group early last year, and Anderson subsequently acquired an injection molding plant with more than 100 employeesCook Inc.
The company is headquartered in Clinton, Michigan.
Last fall, the operation moved from the ATS campus in Fountain Street to a building in Eagle Street.
Rsimone @ township enterprises. comCAMBRIDGE —
The receiver handling the assets of the Cambridge AC precision parts injection molding plant confirmed on Thursday that the plant will be closed.
Alan Ruttman, president, Zeifman Partners Inc.
Due to the company\'s difficulty in repaying its debts, the company was appointed receiver of May, which said it was completing the contract and gradually ending its operations.
According to the work currently in progress, Ruttman said he expects production to be completed in late summer or early autumn.
After that, the equipment at Eagle Street factory will be cleared, he said.
About 40 people have been fired this week, and 60 others have to finish the job.
\"We are trying to meet the needs of our customers and get people to work as long as possible, but this is a final game,\" Ruttman said . \".
\"We always try to see if we can find people to buy these industries, but unfortunately the automotive industry is not an attractive investment opportunity today,\" he said . \".
In addition, customers want to see a viable business, and when recipients get involved, they usually try to move the business elsewhere, he said. Long-
Factory employees who were fired last week said they were told they would not receive severance pay because the company was in the bankruptcy management phase and the worker was not a secured creditor.
The business used to be part of the precision component group of ATS Automation tool systems.
The group, which produces plastic parts for the automotive, medical, consumer and electronics industries, hired more than 600 people in 2007.
But with the recession and the decline in car sales, the number of Labor has fallen.
The sharp drop in sales led to ATS selling the group early last year, and Anderson subsequently acquired an injection molding plant with more than 100 employeesCook Inc.
The company is headquartered in Clinton, Michigan.
Last fall, the operation moved from the ATS campus in Fountain Street to a building in Eagle Street.
Rsimone @ township enterprises. comCAMBRIDGE —
The receiver handling the assets of the Cambridge AC precision parts injection molding plant confirmed on Thursday that the plant will be closed.
Alan Ruttman, president, Zeifman Partners Inc.
Due to the company\'s difficulty in repaying its debts, the company was appointed receiver of May, which said it was completing the contract and gradually ending its operations.
According to the work currently in progress, Ruttman said he expects production to be completed in late summer or early autumn.
After that, the equipment at Eagle Street factory will be cleared, he said.
About 40 people have been fired this week, and 60 others have to finish the job.
\"We are trying to meet the needs of our customers and get people to work as long as possible, but this is a final game,\" Ruttman said . \".
\"We always try to see if we can find people to buy these industries, but unfortunately the automotive industry is not an attractive investment opportunity today,\" he said . \".
In addition, customers want to see a viable business, and when recipients get involved, they usually try to move the business elsewhere, he said. Long-
Factory employees who were fired last week said they were told they would not receive severance pay because the company was in the bankruptcy management phase and the worker was not a secured creditor.
The business used to be part of the precision component group of ATS Automation tool systems.
The group, which produces plastic parts for the automotive, medical, consumer and electronics industries, hired more than 600 people in 2007.
But with the recession and the decline in car sales, the number of Labor has fallen.
The sharp drop in sales led to ATS selling the group early last year, and Anderson subsequently acquired an injection molding plant with more than 100 employeesCook Inc.
The company is headquartered in Clinton, Michigan.
Last fall, the operation moved from the ATS campus in Fountain Street to a building in Eagle Street.
Rsimone @ township enterprises.
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