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Posted: 6:57 PM Apr 16, 2008
Ethanol Plant Designers Lays off 105
Struggling economy triggers layoffs at once-thriving company
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WICHITA, Kan. (AP) _ The nation's leading designer of ethanol plants has laid off 105 workers.
Kansas-based ICM says a struggling economy has made it harder to find lenders for domestic endeavors and has triggered layoffs in
multiple company departments.
ICM had been growing rapidly in recent years, doubling the size of its headquarters in Colwich and building two new project offices. The company employed 671 workers before the job cuts. But prices for corn -- ethanol's primary feedstock -- have doubled. Also, construction costs have risen.
Officials say the company will hold a job fair for laid-off employees, and several local employers have been invited.
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