Creative Extruded Products is closing after being in business for 42 years, two current employees said. Employees were given the news Wednesday, they said.
A message seeking comment was sent to the company.
Fuyao and Tesla are among the Tipp City company’s customers. The business also owns BTA in Trotwood.
Employees said leaders of the Tipp City business expected to be bought about a month ago by a Michigan company. Evidently, the prospective sale fell through.
In a letter to the state, a human resources director said: “Until very recently, the employers believed that a sale of substantially all their assets to a buyer would result in a retention by the buyer of substantially all their employees. Unfortunately, this week the employers have learned that the potential buyer has decided to not further pursue the acquisition. The employers’ assets will therefore not be sold, and the employment of all employees of the employers is expected to end via permanent closure as of Dec. 31, 2021.”
Last year, a national company specializing in tax-advantaged real estate investments bought the company’s property in Tipp City for $7.5 million.