DES MOINES, Iowa (AP) - An automotive parts factory in Traer will close next year, costing the eastern Iowa town about 150 jobs, company officials said Wednesday.
Traer Manufacturing will begin laying off workers in July and close the plant in July 2008, according to Magna International Corp., Traer's parent company based in Ontario, Canada.
Magna issued a statement Wednesday, blaming the closure on a weakening U.S. auto industry. The company said it will try to place employees in other plants and offer other assistance.
Traer, located about 25 miles south of Waterloo, has about 1,500 people, according to census figures.