Keystone Powdered Metal of Troutman will close by April, 2025. The shut-down will impact 217 employees.
The company gave notice to the North Carolina Department of Commerce, town of Troutman and Iredell County commissioners on August 30 that it would close the plant. The notice said employees will be laid off in phases starting November 1st.
The Troutman plant was previously called the Engineered Sintered Components plant before merging with Keystone in 2022.
According to the company’s website, parts for the automotive industry as well as power sports equipment, lawn mowers and industrial equipment were made at the plant in Troutman.
The company is headquartered in Pennsylvania.