A pipe manufacturer has announced it will be closing its plant in Paducah, but the company also said it has a potential buyer that could restart operations and save more than 100 jobs.
Genova Products’ Director of Operations Joseph Pusateri in an email said a potential proposal to purchase the company is currently being reviewed by the bank. Bruce Wilcox is the President of the Greater Paducah Economic Development. He said he is hopeful the company will be bought and jobs will be saved.
“This this is a great location from a distribution standpoint,” said Wilcox. “Typically, the number one is having the available workforce and the skilled workforce capacity. A perspective company can come in here and they can have a skilled workforce readily available.”
Despite a potential buyer, Pusateri the email the company is also in the process of sending out notices to local and state government entities about the potential closure, in compliance with the W.A.R.N. Act.
W.A.R.N. stands for Worker Adjustment and Retraining Notification, which requires a closing company to notify entities, including the state Workforce and Development Cabinet, at least 60 days ahead of a significant layoff or closing. Once a notification has been received by the cabinet, state officials will issue resources to laid-off employees.
A cabinet spokesperson said officials haven’t yet received a W.A.R.N. notification from Genova Products.