About 175 workers lost their jobs last Tuesday when Terex abruptly closed its crane plant in the northeast Iowa city of Waverly.
The company announced late Tuesday afternoon that it is moving production of cranes and boom trucks to its Oklahoma City plant, where it has made multimillion-dollar upgrades to handle the new load.
The Terex press release said, “Terex Cranes has announced it will expand its North American cranes production at its facility in Oklahoma City, allowing the company to maximize its existing manufacturing footprint and better serve customers. As a result, the company will close production of its Rough Terrain Cranes, Truck Cranes and Boom Trucks in Waverly, Iowa, effective July 19, 2016. Production in OKC of the lines formerly built in Waverly is expected to commence in September. Moving Waverly product lines to our Oklahoma City location is consistent with our continuing strategy to win the market place by aligning our costs with market demands.”
Terex immediately idled about 100 production workers affiliated with United Auto Workers Local 411 and gave them a 60-day severance package. Another 75 non-union jobs will be phased out in the coming weeks. Management told employees that if they had tool boxes or other personal belongings they would have to make an appointment to get their items.
Terex Corporate said in a statement that "moving Waverly product lines to our Oklahoma City location is consistent with our continuing strategy to win the market place by aligning our costs with market demands."
A 2014 Waverly city audit lists Terex as the city's fifth largest employers with 350 employees, roughly 4.35-percent of the city's workforce.