A deal has been struck between Veyance Technologies Incorporated and its unionized workers, that will allow the company to close the plant in Owen Sound about three months earlier than scheduled.
Veyance Technologies was scheduled to close July 31st, after the company gave workers six months notice under their contract.
However, the Director of North America Manufacturing for Veyance, Tim Jarvis, tells Bayshore Broadcasting News they negotiated an early shutdown agreement with the United Steelworkers.
The closure agreement was reached on Friday and involves severance packages for roughly 40 workers still at the facility.
Workers have now voted in favour of the severance package, and early closure.
Jarvis says the company will begin closing the plant on April 1st.
But he tells Bayshore Broadcasting News it will take some time to shift customers to a new supplier so there is no firm date for the shuttering of the plant in Owen Sound.
Veyance makes power transmission belts for automotive and industrial applications.
