CEDAR FALLS — A contract machining and engineering company that has been located in the Cedar Falls Industrial Park for 13 years is closing its doors.
The 73 HyPro Inc. employees will be laid off on or after March 27 “due to unforeseen business circumstances and the decision to consolidate operations,” according to a letter obtained by The Courier announcing the company’s plans. HyPro’s facility is located at 711 Enterprise Drive.
According to a description on its Facebook page, the company provides high-quality precision-machined components and assemblies. It uses advanced manufacturing processes such as computer numerical control machining. HyPro officials didn’t respond to requests for comment about the closure.
The Waterford, Wis., company’s President Mark Schildt sent the Jan. 28 letter to Iowa Workforce Development and Cedar Falls Mayor Rob Green to meet requirements of the Worker Adjustment and Retraining Notification, or WARN, Act. City officials shared the letter after The Courier made inquiries about the layoffs.
In the letter, Schildt indicates the closure and the layoffs of all employees at the location are permanent. Some employees may continue working beyond the March 27 date “due to business need and the winding down of the operation,” the letter states.
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“In the event affected employees do not receive a full 60 days notice, they may receive the appropriate period of continued pay and benefits following their layoffs,” it adds. “Bumping rights are not available.”
According to Courier files, HyPro bought the 113,000-square-foot building in the Cedar Falls Industrial Park and opened its branch there in 2006. It was purchased from Bossard-IIP for $2.18 million. Bossard-IIP had moved to a larger facility it built in the industrial park.
HyPro also has manufacturing facilities in three other Wisconsin locations – Berlin, Rhinelander and Platteville – and Vinita, Okla.
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