Fish went on to thank employees for their hard work and dedication. However, the company has gone through many changes in recent years, particularly a growth spurt by acquisition, and that dust is still settling.
"Over the past four years, Revere has completed five acquisitions, and we have recently launched a significant amount of new business," Fish said. "Due to market conditions and time constraints, we did not have the ability to fully synergize and optimize our manufacturing footprint. As a result, we made the decision to consolidate our operations and close the Poplar Bluff plant."
The site, which also offers shuttle molding and insert molding, serves the automotive, medical and consumer markets with parts and components for fuel tanks, engine rewinds, power tool housing, small appliances and medical devices.
While the Revere business is healthy overall, the company ended up with too many production facilities and will cease operations in Poplar Bluff.
"We want to stress that this is not a cutback, but rather a strategic optimization of our manufacturing footprint. In fact, we are currently experiencing and expecting nice growth for the balance of the year over 2022 as a whole," Fish said.
In a letter to employees, the CEO described some of the steps taken in the last five years to diversify and grow the business and why it now needs consolidation.
"Throughout this period, however, there have been many macro challenges outside our control like COVID, resin supply shortages, and customer supply chain disruptions," Fish said. "Since these macro challenges have begun to stabilize in 2023, it is necessary for Revere to evaluate the ideal manufacturing footprint to optimize service to our customers and streamline our operations."
Revere's manufacturing footprint houses presses from 25 to 3,300 tons at sites in Fraser, Mich.; Clyde, Ohio; Auburn, Ala.; Jeffersonville, Ind.; McPherson, Kan.; Ankeny, Iowa; Brampton, Ontario; and Saltillo, Mexico.
The company has about 1,200 employees.
Revere officials told the local press that no other locations are closing and the displaced Poplar Bluff workers have been invited to consider positions open at the other plants.
"The HR and local leadership teams will be working with you individually to explain how long your services will be needed and the benefits that will be provided to you throughout this process," Fish told employees. "It is important you know how much we value every member of our team and our closing is made even more difficult by the loss of excellent and loyal employees. I sincerely thank you for all of the work you have done during your time with Poplar Bluff. Our loss will certainly be another's gain."
Revere officials will next file an official Worker Adjustment and Retraining Notification to meet state and federal requirements.
"Members of the management will remain available to help you through this transition and will be meeting with each of you in the coming days to discuss this process," Fish told employees. "They will discuss the timing and details of your separation, as well as benefits and the local resources available to assist you in finding a new position. We invite you to request letters of recommendation as we wish you nothing but success in your career search."
With an estimated $255 million in annual sales, Revere ranks 40th among North American injection molding companies.
The company made headlines in March when it began molding and assembling components again for Powerhouse-brand solar shingles, which install like traditional asphalt roofing products and had recently returned to the market.