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(AMM) PTC Alliance extends layoffs

June 29, 2009 - 17:38 GMT Location: NEW YORK

PTC Alliance has extended 115 layoffs at its Alliance, Ohio, plant and may lengthen cuts at two plants in Pennsylvania.

The Wexford, Pa.-based company blames the cuts on a business downturn with "no reasonable forecast for recovery."

All told, some 200 PTC Alliance workers have been laid off as a result of the sharp economic downturn.

The company, a player in the steel pipe and tube market, earlier this month announced that 115 layoffs at its Alliance facility now appear to be "of indefinite duration."

"Recent economic events have resulted in sudden and unexpected reverses,"...

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