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More manufacturing workers could soon lose their jobs in Indiana’s Elkhart County.
WSBT, South Bend, reported that component supplier Atlantis Plastics filed for bankruptcy earlier this month. The company blames a weak economy and slow sales of the RV-related products that Atlantis makes, according to Michelle Ebbitt, senior manager of human resources.
A day after the bankruptcy filing, Alantis said it had agreed to sell its plastic films arm for $87 million to AEP Industries Inc., a publicly traded company based in South Hackensack, N.J.
Atlantis’ molded plastics business has been sold for an undisclosed price to New York private equity fund Monomoy Capital Partners LP.
WSBT said those companies will decide whether to keep the facilities open and retain the employees. The sale is expected to be completed by the end of October.
Atlantis filed a conditional notice with the Indiana Department of Workforce Development to warn the state of the possibility the three facilities could close.
If they do close, 170 workers would lose their jobs at the three different plants in Elkhart County.
Atlantis has three business lines: plastic films, injection molding and profile extrusion.