BAXTER - Team Industries Inc., based in Bagley, announced Friday that it will be closing its Baxter plant, affecting about 40 employees.
David W. Ricke, chief executive officer for Team Industries Inc., said in a news release that sluggish sales and reduced profitability forced the company to take actions that will contribute to its long-term stability.
The target date for the plant closing will be early July. Ricke said the company is working with customers to efficiently transfer work between several of its other plants.
"We are deeply saddened by the impact this will have on many of our employees," Ricke said.
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