CHATTANOOGA, Tenn. (AP) — Instead of shutting down 300 jobs at an automotive components plant in Chattanooga, a new owner is looking to make the business bigger.
At the Modern Industries plant at Lookout Valley, it was shut down or sell.
Chamber of commerce and Chattanooga and Hamilton County leaders found a buyer, and the new owner says workers at the plant will not be looking for jobs.
Manufacturers Industrial Group, based in Lexington, Tenn., has bought the plant.
The new chief executive, Andre Gist, said he hopes new customers can be found, possibly the military.
Leggett and Platt Inc. sold the plant for an undisclosed price.
The plant comptroller, Dan Diener, said the buyout ends ''a big roller coaster ride'' and is a big relief for everybody involved.
