Apex Tool Group closing Springdale plant
Posted: August 7, 2014 at 4:44 p.m.
Updated: August 7, 2014 at 5:29 p.m.
Apex Tool Group is closing its Springdale plant and merging those operations and the operations of a Texas plant into a South Carolina location, according to a statement from the Springdale Chamber of Commerce.
"While this is a setback, it is our understanding that there will be no immediate layoffs," Webb said in the statement. "That gives us time to mitigate the impact of this announcement through continued job creation in Springdale."
The 200,000-square-foot plant at 1690 N. Old Missouri Road was established in 1969, according to the company's website.
Apex is based in Sparks, Md.
Webb indicated the announcement was not completely unexpected.
"We have known for some time that plant consolidation was part of the company’s long range plans," Webb said in the statement. "We were the beneficiary of this strategy in 2009 when we were able to assist our local plant in securing consolidated tool lines from New York at the time APEX Tool Group was formed by Danaher Tool Group and another tool firm."