WEATHERFORD, Okla. (AP) - Imation Corp. says it is closing its magnetic tape coating plant in Weatherford by April 2011. The company says that about 115 jobs will be cut, mostly in manufacturing operations. Imation says it will maintain its research, development and engineering facility at its Oakdale, Minn., headquarters.
Imation President and CEO Mark Lucas says in a statement that the decision to close the Oklahoma facility "is a difficult but necessary step" as the company tries to improve its operating efficiency and optimize its magnetic tape business.
He says the company will provide "financial assistance and outplacement support" to employees who will lose their jobs.
U.S. Sen. Jim Inhofe, R-Okla., says in a statement that "it will be important to find a new tenant" for the Imation building in Weatherford.