WAVERLY, OH --

Negotiations beteen Masco Corp. and an unnamed potential buyer of the Mill's Pride cabinetry operations have reportedly broken off.

According to the Chillicothe Gazette, Masco sent an e-mail to Mill's Pride employees noting, "This is to formally announce that all negotiations pertaining to the sale of the Waverly facility have been terminated. Accordingly, the Waverly facility will be closed sometime in 2011."

The e-mail reaffirmed Masco's announcement in April that it would shut down Mill's Pride's massive manufacturing complex in Waverly as well as a satellite facility. One notable difference is that while the original announcement specified ceasing operations in the first quarter of 2011, the e-mail noted that a "ramping down" of operations would continue culminating with the closing in the second or third quarter of 2011.

The Waverly plant employed more than 1,200 employees when Masco first announced plans to close it.

Recently, Governor Ted Strickland said, "There was a potential buyer that showed great promise but is experiencing great difficulties."

Waverly Mayor Dale Reed told the Gazette that city officials had been mainly been kept in the dark about the Mill's Pride negotiations. He vowed that the city would get more active and held out hoped in spite of the Masco's latest pronouncement to proceed with shutting down Mill's Pride, that a buyer could still be found.

"The City of Waverly is the one that's going to take the brunt of the hit, so we definitely need to be involved in all discussions," Reed told the Gazette. "Anything that has to do with that building -- offers that are on the table to buy, I think we need to be made aware of those so that we, personally, as a city can contact them and talk with them."


MORE MILL'S PRIDE COVERAGE

Blog: Has Hope Run Out for Mill's Pride Employees? (Posted 9-26-10)
 
Ohio still seeking buyer for Mill's Pride facilities (Posted 9-14-10)

Report: Three parties interested in Mill's Pride (Posted 7-9-10)

Ohio offers aid to 1,400 Mill's Pride workers (Posted 5-28-10)

Ohio governor seeks buyer for Mill's Pride plants (Posted 4-30-10)

Blog: End of the Line for the 'Pride' of Waverly? (Posted 4-28-10)

Masco to close RTA plant in Waverly, OH (Posted 4-27-10)

Editorial: Mill's Pride Eight Years Later & Case Study: Mill's Pride's Rapid Rise (Posted 4-12-98)

Mill's Pride in the Beginning: Editorial - How's This for Openers (Published in Wood & Wood Products, March 1990)

Mill's Pride in the Beginnining: Case Study - Mill's Pride Steps Boldly into RTA Cabinet Market (Published in Wood & Wood Products, March 1990)





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