In a press release forwarded to the Chronicle-Independent by the Kershaw County Economic Development Office, HBD/Thermoid announced Monday its plans to discontinue operations at its facility in Elgin. The Elgin facility manufactures a wide range of power transmission belts.
Thermoid said it plans to continue manufacturing at the Elgin location through May 31 in order to fulfill existing orders to customers. The company will also work with customers to accommodate near-term requirements where possible.
“This was a very difficult decision that has come about only after extensive analysis of the business and our alternatives,” Thermoid President Matt Lockard said in the release. “We have an outstanding workforce in Elgin and are grateful for their contributions to our business over the years. Unfortunately, our operation has struggled to remain competitive within this difficult global market.”
The Elgin facility is the only Thermoid facility that manufactures power transmission belts. The company said it will continue place its strategic focus on its core industrial rubber products, including hoses, ducting and conveyor belts.
Thermoid, a subsidiary of HBD Industries Inc., which has been in existence since 1883. HBD describes itself as a “privately-held diversified manufacturer of engineered products.”
According HBD VP for Human Resources Emily Ritchie, Thermoid currently has 52 full-time employees.