Power Products Systems, a company associated with Kongsberg Automotive Holding ASA, will close its Hagerstown factory Oct. 31, according to a company press release that was issued Wednesday.
Scott Trayer, operations manager of the Hagerstown facility, said in an e-mail that questions about the closing were to be directed to Ronny Lie at corporate communications. Attempts Wednesday to reach Lie were unsuccessful.
The Power Products Systems factory at 101 Western Maryland Parkway employs 64 people, the release said. The decision to close was made in an effort to realize "cost savings in order to improve overall competitiveness."
"To Kongsberg Automotive, it is decisive that we find ways to optimize our production in order to stay competitive in an ever increasingly global market," Power Products Systems President Jim Ryan said in the release. "The transfer of business from Hagerstown will better align us to market needs, simplify our business and improve profitability for the Division per our strategic plan."