Oregon-based North Pacific Group Inc. said Monday it will close its North Pacific Composites manufacturing plant in Gunnison over a three-month period, resulting in the loss of about 45 jobs.
The plant, formerly known as Wasatch Technologies, manufactures fiberglass light poles, structural columns and other products using a filament-winding process. North Pacific Group acquired the plant in April 2002 in order to expand its offerings.
"We made a strong effort and invested a lot of money and resources to make this plant successful during the past year," said Jay Ross, North Pacific Group president. "Unfortunately, due to the weak economy and competitive pressures of the industry, we find it necessary to take this difficult step to reduce our operating losses."
A partial reduction in the work force will take place immediately. The company said it will look for opportunities to sublet the building.
Privately held North Pacific Group, headquartered in Portland, has annual sales of more than $1 billion. It and its subsidiaries produce or distribute building products, steel and agricultural commodities worldwide.