The president and CEO of Zodiac Elastomer said he had no comment in response to reports that the Magnolia facility will close later this year, costing about 300 local jobs.
Mike Viscosi told the Banner-News Monday that he could not comment on reports that the plant will close due to a breakdown in negotiations between the company and United Steelworkers Local 13-607L.
Viscosi did not dispute reports that union members on Friday rejected a deal that would have allowed a Seattle investment company to purchase the company.
An unnamed source told the Banner-News the investor would revoke its offer to buy the company if the union did not agree to a deal.
The source told the Banner-News that 261 union members voted Friday, with 83 percent voting against the deal.
Zodiac Aero Elastomer America was originally founded by the Firestone Co. in the 1940s and moved to Magnolia in 1968. It was purchased by Zodiac Aerospace in 1995. It is often referred to locally as Amfuel, which is a member of the Zodiac Aerospace Group, the largest designer and fabricator of composite materials for aviation, aerospace, military ground forces and commercial transportation. It has an annual payroll of about $6 million.
Gail O’Guinn, the local field representative of Local 607L, said she had no comment on the situation when contacted by the Banner-News this morning.