A Syracuse-area manufacturing company that has been in business for nearly 125 years is closing up shop this week.
The Post-Standard of Syracuse reports that the last auto parts assembly lines at New Process Gear in suburban DeWitt will shut down Thursday night. The plant will be completely shut down by the end of the year.
At its height, New Process Gear employed about 4,000 workers who made parts for cars and trucks. But the plant has been losing money for years. Its Canadian owner, Magna International, decided in 2009 to close the factory after unionized workers rejected contract concessions.
The company founded in 1888 produced hardened rawhide for use as gears. In 1913, the name was changed to New Process Gear as it switched to making metal automotive gears.