Crescent Plastics closing after 73 years
EVANSVILLE, Ind. (WFIE) - An Evansville company is closing after more than 70 years in business.
Scott Schroeder with Crescent Plastics says the closure will impact 60 employees.
He says they plan to stop production by December 2 and cease operations by the end of the year.
Schroeder says they have been losing customers to cheaper products overseas.
A WARN notice is not yet posted with the state.
Schroeder said over the phone that he’s proud of the work that employees at Crescent have done over the years.
According to its website, Crescent Plastics has been in business since 1949.
The company sent out the following press release concerning the closure on Thursday afternoon:
Crescent Plastics, Inc. will cease production at its Evansville, Indiana manufacturing facility on December 2, 2022, and will permanently close on December 31, 2022.
This decision was not taken lightly and in no way reflects the dedication and performance of the affected employees.
Crescent has a long history of manufacturing in Evansville starting in 1949. Throughout its history, Crescent supplied extruded plastic parts to the appliance, point of purchase, agriculture, and heavy trucking industries. Crescent later entered the lighting fixture market and served many large players in this space. In recent years, and to Crescent’s detriment, many of these industries increasingly transitioned their production facilities and supplier bases to low-cost countries, specifically Mexico and China. Ultimately, the lack of domestic demand for the products Crescent produces resulted in the decision to discontinue operations.
The closure decision impacts 62 union and non-union employees in the Evansville factory. We are working closely with local resources to help ease the transition.
Copyright 2022 WFIE. All rights reserved.