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Outage Summary
Powermate files bankruptcy and plans to close plant in Kearney
Associated Press - March 18, 2008 7:05 PM ET
OMAHA, Neb. (AP) - Power equipment manufacturer Powermate Corporation has filed for bankruptcy and announced plans to close its Kearney plant, eliminating about 200 jobs.
Powermate said in its U.S. bankruptcy court filing yesterday that it owes between 50 million and $100 million to creditors, most of which are suppliers. The company is seeking Chapter 11 protection.
It is not immediately clear how all of Powermate’s operations will be affected by the filing because no one answered the phones at the company’s Aurora, Illinois, headquarters, and the company has not issued a statement.
The company, which has plants in Kearney and in Springfield, Minnesota, manufacturers portable generators, air compressors and pressure washers.
The Kearney plant manager Ward Jorgenson told the Kearney Hub the plant will close Friday, but wouldn’t comment further.
One Response to “Powermate files bankruptcy and plans to close plant in Kearney”
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20. March 2008 at 05:56
Power equipment distributor (AGI) Aurora Generators Inc. today
commented on Powermate Corporations announced bankruptcy. Ralph
Jolivet, company President has offered retraining and positions with
his company based in Canada and the USA. “(AGI) supplies north
America with gas and diesel power generators and continues to grow”
said Jolivet. Jolivet also said that their company who sells mostly
online at EmergencyPower.com has managed to get a stronghold on the
market by monitoring customers comments, updating their products and
always meeting buyers demands. Direct to home shipping has virtually
eliminated a middle man reducing their cost and enabling them to focus
on quality and service. AGI formed in 2005 focusing on more reliable
diesel generator products and currently sells over $15 million in
diesel generators a year.