John D. Hollingsworth on Wheels, Inc. announced Friday it will close operations December 31, 2009.
The closing will eliminate positions for the company's current 190 employees.
Severance benefits and career transition assistance will be offered by the company to employees.
As a supplier of textile machinery, the continued decline in the industry is to blame, according to William E. Henderson, President and Chief Operating Officer.
Henderson said, "This is a difficult day for the HOW family. We have a dedicated group of employees and many have been here for a very long time. This decision to close is not reflective of their capabilities. It's simply a result of the disappearance of so many of our good textile industry customers that has resulted in a decreased demand for textile machinery products in the United States."
Background Information From Company:
From its beginning in the late 1800's, HOW grew to be one of the world's leading manufacturers of textile equipment. Started by Mr. Pinckney C. Hollingsworth, it was a one-man operation with a mule-drawn wagon machine shop on wheels that traveled to cotton mills in the Carolinas to perform repairs on textile machinery. Pinckney’s son, John D. Sr., continued the business and at an early age, John D. Jr. began helping his father. He is attributed for leading the company to worldwide success in the textile machinery industry.
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