Derby Cellular Products Inc., Derby's largest manufacturing plant, will close in June and eliminate nearly 100 jobs, following the sale of the company's assets to a Georgia-based manufacturer.
Derby Cellular will remove all employees, including management, from its payroll June 6, said Allan J. Cribbins, the company's president. Cribbins said the rubber product manufacturer signed an agreement April 6 to sell its assets to LTI Flexible Products, based in Newnan, Ga.
The closing follows an announcement earlier this week that Stanadyne Corp., a Windsor-based maker of fuel injection systems for engines, will close its headquarters plant and eliminate 250 jobs — moving the work to plants in the South. Stanadyne said it will keep its head office, development and other operations in place.
Derby Cellular, like many manufacturers in Connecticut, has been buffeted by a combination of high costs and declining sales. Electricity, medical insurance and raw material costs have been major factors, Cribbins said. Demand for the company's products, he said, has also plummeted, despite a wide range of customers, including Whirlpool and General Electric.
"The market has collapsed around us," Cribbins said Friday.
The company gave employees and government officials a required 60-day notice before closing.