South Paris firm lays off 8% of work force
Maine Machine Products, a precision custom manufacturing plant in South Paris, has laid off 8% of its work force, bringing the number of employees down from 138 in 2010 to 125 today, the Sun Journal reported today.
CEO David MacMahon told the newspaper that about a dozen workers were laid off earlier this month and another five workers were laid off in the spring, following completion of a yearlong Pentagon contract.
The company manufactures precision machine components for defense, semiconductors and oil and gas companies. As much as 30% to 60% of the company's work relates to defense contracts, MacMahon told the Sun Journal.
Founded in 1956 by Roland Sutton and Bill Detert , the company was sold in 2010 to GenNx360 Capital Partners, a $600-plus million private equity fund based in New York with offices in Boston, Seattle and India.
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