Connecticut-based Stanley Black & Decker, Inc. will close two of its factories and consolidate operations at a new facility in Greenfield, Ind., by 2012.
According to various online sources, plants in both Rhode Island and Indiana will be effected by the move.
The Providence Journal reported that about 128 workers at Black & Decker’s nail and staples factory in East Greenwich, R.I. would be laid off. An additional 75 workers will be moved to a smaller facility elsewhere in the state, although the exact location was not revealed. At its peak in the 1980s, the Rhode Island plant employed about 1,400 workers.
Meanwhile, in Indiana, about 100 employees at an existing Stanley-Bostich plant in Shelbyville will be moved to a larger facility. According to the Indianapolis Business Journal, they will be transferred to a 220,000-square-foot facility in neighboring Hancock County. Production at the new facility is expected to begin next March, with the transition competed in 2012.
Workers at the Greenfield factory will make industrial, steel and wire fasteners, and assemble pneumatic tools.
The IBJ reported that the Indiana Economic Development Corp. offered the company as much as $600,000 in performance-based tax credits and $50,000 in training grants. The city of Greenfield plans to provide infrastructure assistance and tax abatements.
Stanley Black & Decker was formed last March when The Stanley Works completed its $3.5 billion purchase of power-toolmaker Black & Decker Corp. Stanley acquired Indianapolis-based Best Lock in 2003. The combined company has nearly 40,000 employees worldwide.
Sources: Indianapolis Business Journal, Indiana Economic Digest, Indy Star and The Providence Journal