Bucyrus, Ohio-based Bucyrus Precision Tech, a Tier 1 supplier of automatic transmissions, rear differentials, and drive shafts for the automotive industry, has announced the complete closure of the company by the end of 2021. The closure will impact 105 employees.
According to a company spokesperson, "This decision has been a very difficult one to make, however, we have found no alternatives. The decision to close the BPT plant in Bucyrus was a difficult one and comes about after several years of drastically declining sales as a result of automotive technology changes. Unfortunately, our many attempts to secure new sales to allow for the continuation of operations were unsuccessful. We are extremely grateful to our associates, the Bucyrus community and the State of Ohio for their significant contributions and support to BPT over the past 25 years.”
It should be noted that the increasing number of electric vehicles eliminates the need for heavy and expensive conventional transmissions and drive components as the electric motors are coupled directly to the wheels.
Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?
