May 10, 2016
Rubber division of Sanford manufacturer sold
Five of the 33 employees of the Sanford-based manufacturer Expanded Rubber Products will be laid off following the company’s sale of its foam rubber line to Mossup, Conn.-based manufacturer Griswold LLC.
Although the terms of the sale were not released, Expanded principal Clayton Ney told the Portland Press Herald that the sale was a “business decision” that would allow the company to focus on other products, including expanded plastic packaging, which is commonly used when shipping electronics.
“We’re not disappearing as a company,” Ney told the Press Herald. “The acquisition creates a new direction for the company, with wonderful new opportunities because we will be able to concentrate on our new product lines. We’re pleased.”
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