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DMI Industries plants in ND, OK to be sold

DMI Industries plants in ND, OK to be sold Click to Enlarge Photo:

Aug 8, 2012 at 6:54 am

WEST FARGO, ND (AP) - Minnesota-based Otter Tail Corp. is negotiating to sell its wind tower manufacturing plants in North Dakota and Oklahoma for $20 million.
 
Otter Tail has not identified the potential buyer for the DMI Industries Inc. plants, property and equipment in West Fargo, N.D., and Tulsa, Okla. The company says in a statement that the transaction is expected to close no later than next Jan. 3. The plants are to close late this fall when current orders are met.
 
The future of the 216 workers in Fargo and the 167 workers in Tulsa is uncertain. Spokesman Michael Olsen tells The Forum newspaper that Otter Tail hopes the new owners ''see the value in our plants and skilled workforce.'' But the company's statement says there has been a reduced demand for wind towers.

 

JW Cox

Posted By JW Cox

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