BEDFORD HEIGHTS, Ohio — A Bedford Heights manufacturer will be closing its facility following financial hardships further exacerbated by the COVID-19 pandemic.
ASWPengg, a leading global supplier of spring wire located in Bedford Heights, announced that it would be closing its facility on Miles Road next month.
The closure will impact around 122 employees who will be terminated over a two-week period near the end of June, according to the company.
Employees of ASWPengg have been notified of their pending termination, which the company said is permanent.
The closure comes following what ASWPengg called “financial distress related to unfavorable trade policy timed with very heavy capital investment” between 2018 and 2019.
Although the company said it was able to obtain operating capital since then, the COVID-19 pandemic made it hard to secure enough capital to keep operations up past the end of June, according to the company.
