Aqua Glass Corp., part of Moorestown, N.J.-based Masco Bath, a division of Masco Corp. of Taylor, Michigan, has blamed declines in new construction for the pending closure of its manufacturing plant in Klamath Falls, Oregon.
The company, which employed about 300 people at its peak, owns its about 200,000 square feet premises, on a site of about 35 acres, and which was valued at USD 9 million at the time of construction.
Aqua Glass is part of Moorestown, N.J.-based Masco Bath, which is a division of Masco Corp. of Taylor, Michigan. Masco manufactures, distributes and installs home improvement and building products for home construction markets.
In its third quarter ending 30 September, the company reported a USD 36 million profit compared to a USD 5 million loss for the same period in 2010.
"We have continued to take aggressive steps to address these challenging market dynamics and further reduce our cost structure," chief executive Tim Wadhams said in a news release. "In October, we closed multiple facilities and reduced headcount in those businesses most affected by these economic conditions."
According to the news release, during that quarter, the company focused on "business consolidations, plant closures, headcount reductions, system implementations and other initiatives."