Union Stamping & Assembly announced today its likely closing the stamping plant in South Charleston by the end of October this year. That would put around 300 workers out of a job in one of the Kanawha Valley's biggest businesses.
In a prepared release this afternoon, Union Stamping said its tried to cut costs and increase revenue since 2005. The company pointed out that hourly workers voted against discussing the current wage and benefit structure. It also said the company's lender reduced its line of credit and it could not get new business commitments.
Stay logged on to WSAZ.COM for further updates. Watch live reports on the stamping plant closure on First At Five and NewsChannel 3 Six O'clock.