Fort Wayne plant to close

FORT WAYNE -- Indiana Die Molding will close its plant after being squeezed out by low-cost Chinese competitors, plant manager Jerry Born said.\nThe plant will close by July 31, Born said Wednesday. About 64 hourly and 11 salaried employees will lose their jobs.\nThe Fort Wayne-based maker of plastic injection-molded components served the automotive and truck industries. Customers included Dana Corp. and UnderSea Sensor Systems Inc.\nIt was too soon to say what effect the closing would have on UnderSea's business, Joe Peters, a company director, said.\nIn a written statement, Indiana Die said it has seen continuing erosion of its customer base, largely because of mounting global price pressures.\nEmployees were expected to receive severance pay and job search assistance.\nThe company, which reported annual sales of about $5.2 million in 2003, had seen its employment fall from 115 about three years ago.