Posted 2011-03-07 8:54 AM (#131300) Subject: Kiefer Built Plant closing
Member
Posts: 20
Location: Lake Mills, Iowa
It was announced on a local radio station in Iowa the Kiefer Built Manufacturing plant in Kanawha, Iowa is closing. Management is meeting with employees today.
Posted 2011-03-08 10:57 PM (#131374 - in reply to #131300) Subject: RE: Kiefer Built Plant closing
Member
Posts: 31 Location: Mt.Carroll,IL
The employees of that company have my sympathy at the loss of their jobs....I, myself, have been only been able to find part-time work since I was laid-off from my job for almost 2 years...I too live in a town where businesses have closed...Its sad to see this happen and I sure hope another company has interest in buying it...Makes a person wonder how much worse this economy is going to get...
Posted 2011-03-18 12:59 PM (#131819 - in reply to #131300) Subject: RE: Kiefer Built Plant closing
Extreme Veteran
Posts: 406 Location: Minneapolis, MN
Stellar Industries Announces Local Acquisition
Garner, Iowa – Stellar Industries, Inc. is proud to announce its intention to acquire the assets of Kiefer Built, LLC. The acquisition of assets will occur by means of the acquisition of debt instruments of Kiefer Built and the transfer of assets in satisfaction of those debt instruments in connection with the Chapter 7 bankruptcy filed today by Kiefer Built in the U.S. Bankruptcy Court for the Northern District of Iowa.
Collaborating with Kiefer Built’s present distributors is a key component to Stellar Industries’ plans for the business. Stellar is also excited about bringing its financial strength, innovation and, where appropriate, its robust distribution network, to further enhance Kiefer Built’s strong industry presence in the trailer industry. In addition, Stellar expects to establish synergy within the markets in which Stellar currently operates by introducing new product lines appropriate to those markets associated with the manufacturing capabilities of Kiefer Built. Working with the State of Iowa and other Iowa economic development groups on the regional and local level, job retention and creation will be a fundamental focus of the asset purchase. Stellar expects to recommence Kiefer Built manufacturing operations within the next two weeks.
Stellar Industries, Inc. was founded in 1990 in Garner, Iowa. It is an employee owned and operated manufacturer of hydraulic truck mounted equipment. Products include hooklift hoists, cable hoists, container carriers, telescopic cranes, articulating cranes, work truck accessories and the X-Tra-Lift pick-up loading device. Stellar also offers complete mechanic service truck and tire service truck packages. Stellar is a progressive company that focuses on its people, as they are the key to making the products and the company successful.
Kiefer Built, LLC is an aluminum and steel fabricator of horse, livestock, cargo, and industrial trailers. Kiefer Built, LLC is headquartered in Kanawha, Iowa, with additional manufacturing facilities in Sneedville, Tennessee.
For more information regarding Stellar Industries, Inc., visit www.stellarindustries.com, or to set up an interview with a Stellar Industries spokesperson, contact Donna Popp-Bruesewitz, communications manager, at 641-860-2015.
Posted 2011-03-18 1:59 PM (#131822 - in reply to #131300) Subject: RE: Kiefer Built Plant closing
Elite Veteran
Posts: 714 Location: Minnesota
Stellar is a great local company that will hopefully keep KB competitive in the trailer market. From what I have heard they treat their employees (who get stock options) very well.
Posted 2011-03-18 3:45 PM (#131828 - in reply to #131822) Subject: RE: Kiefer Built Plant closing
Extreme Veteran
Posts: 368 Location: Georgia
I hope that by being bought by the new company means that some of the existing Keifer employees will get to keep their jobs or even better ALL and maybe even hire new folks. I hate that Keifer closed up shop for all of the folks that worked there and for my own selfish reason of losing the warranty on my trailer. Yes, I know losing a warranty is nothing compared to losing one's company and job.
Kiefer Built Plant closing
