Fargo, N.D.-based DMI Industries, a wind tower manufacturer, will cut approximately 20% of its workforce across its three facility locations in North Dakota, Oklahoma and Ontario. The actions are the result of declining demand as difficult credit conditions continue to impact the ability of wind energy developers to secure needed project financing.
‘The weaker outlook means a short-term step backward, but the actions taken now will help DMI maintain its competitiveness and productivity in all three facilities and ensure the company remains well positioned for continued growth and profitability,’ says Stefan Nilsson, president of DMI.
He added that efforts are now focused on minimizing the impact to customers and employees. Employees affected by the reductions are receiving assistance from DMI with benefits and compensation through the transition period.
Following these reductions, DMI still begins the year more than 150 workers ahead of last year at this time, at more than 750 employees in total in its three production facilities. Also, its Oklahoma plant is now in full operation, which was not the case just one year ago.
SOURCE: DMI Industries