Processing Your Payment

Please do not leave this page until complete. This can take a few moments.

April 24, 2008

Camden co. eliminates jobs

Tibbetts Industries, the eighth largest employer in Camden, this week announced it is moving jobs to Singapore.

General Manager Paul Shulda told the Camden Herald on Tuesday that downsizing at the 53-year old manufacturer of miniature medical and electronic products will take 12 to 18 months to complete. He did not tell the paper how many of Tibbetts' 85 employees will be laid off, and referred a call from Mainebiz to Tibbetts' parent company, IntriCon, in St. Paul, Minn. A call to IntriCon was not immediately returned.

Tibbetts was acquired by IntriCon 11 months ago for $4.5 million and the assumption of certain financial liabilities, according to the Camden Herald. In 2006, Tibbetts reported $7 million in sales. Shulda told the paper the Camden factory will stay open to complete small-scale manufacturing, but most of the production will go to Asia to reduce costs.

Sign up for Enews

Mainebiz web partners

Most Recent

Most Recent

Comments

Order a PDF