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Grede to idle Radford foundry, 250 jobs lost

Thursday - 9/5/2013, 7:40am  ET

RADFORD, Va. (AP) -- Grede plans to idle its foundry in Radford at the end of the year and lay off 250 workers.

Grede spokesman Richard Pacini tells media outlets that some of the foundry's 28 salaried employees will be able to apply for jobs at other company facilities. But 234 hourly workers likely won't have that opportunity.

The foundry produces steel parts for the automotive industry.

Pacini attributes the decision to idle the foundry to the economy. A furnace fire in May 2012 that disrupted production also was a factor.

The foundry has had three owners since 2008. Grede acquired it in March 2012.

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