BRUNSWICK — The parent company of Cooper Wiring Devices confirmed Wednesday that it will close its Cressey Road plant within the next 12 months.
A spokesman for Houston-based Cooper Industries said the shutdown is expected to result in the loss of 76 jobs.
Cooper Wiring Devices makes electronic fuses and lighting fixtures.
Cooper spokesman Matthew Foley said employees were notified of the decision on Monday, although none of them have lost their jobs yet. Foley declined to elaborate on the closure, saying the company is normally “tight-lipped” about its business decisions to avoid disclosing competitive information.
Foley said all employees will receive severance and the company is working with state agencies to coordinate job counseling services.
He said the Brunswick shutdown is unrelated to a recent corporate reorganization.
The company on Sept. 9 announced that it would be incorporated in Ireland in order to take advantage of the country’s “stable, business and regulatory” environment, and to expand its international business.
The Brunswick announcement came just two days after the reorganization became official.
According to a brief press release, the company is closing the Brunswick plant due to “global economic conditions.”
“While decisions such as these are never easy,” the statement continued, “Cooper Industries is committed to responding quickly to shifts in the economy and helping ensure the long-term success of the businesses and products upon which our customers and stakeholders rely.”
A call to Cooper Wiring Devices in Brunswick was not returned on Wednesday.
According to Foley, Cooper Industries purchased the Cressey Road building in 1974.