BARTON– FreightCar America announced today around 4 pm that they will be closing the Barton plant, phasing out all 600 plus jobs.
This is probably the worst news the Shoals area has probably received economically in quite some time.
In a press release, company officials say they are realigning the company and sending the jobs to a business partner in Mexico.
Management had extra police on property when the announcement was made on Thursday afternoon.
Employees will receive a $6,000 closeout bonus and a $1 an hour raise through the end of the year.
Plant officials say the closure should be finalized in January of 2021.
The company also said in the release that there was $52.5 million in company cash reserves.
