COLORADO SPRINGS, Colo. (The Gazette) — The owner of a Colorado hand tool manufacturing plant plans to close and lay off all of its 164 employees.
The Gazette reported Ideal Industries Inc. confirmed the company will close Western Forge after 54 years in Colorado Springs. An Ideal Industries representative says the company has not yet set a closing date, but will continue operating the plant until current customer orders are filled.
Ideal says the closure resulted from retail giant Sears selling its Craftsman tool division and moving tool manufacturing operations offshore. The company plans to consolidate manufacturing at its SK Professional Tools plant west of Chicago.