Excess capacity to blame for plant shutdown that puts 40 people out of work.
OWEN SOUND, Ont.—Veyance Technologies Canada has closed its Owen Sound operation, putting almost 40 people out of work.
The company makes power transmission belts for automotive and industrial applications.
Company officials blame the decision on an excess of plant capacity in product lines manufactured in Owen Sound. The operation has been downsized over the past few years.
Veyance is the exclusive manufacturer and marketer of Goodyear Engineered Products worldwide, manufacturing Goodyear-branded air springs, power transmission products and conveyor belts.