Breaking business news out of Ardmore that will affect hundreds of families.
The IMTEC plant in Ardmore is set to close by the end of the year.
Sources tell KTEN that the news was given to the company's 200 employees this morning.
IMTEC designs and develops dental specialty products and offers some of the highest-paid jobs in Ardmore.
The company laid off 20 positions last year in Ardmore and was purchased by 3M three years ago.
The following is the press release from 3M, the parent company for IMTEC:
ST. PAUL, Minn.—June 10, 2010—3M announced today to employees at its facility in Ardmore, Okla., that it will phase out operations there by the end of the year.
Operations will move to St. Paul, Minn., and Irvine, Calif., over the next several months. This move will help the dental implant business, which is rapidly emerging as a standard of care for the industry, to more fully realize its potential.
"We have invested, and continue to invest, in this business and remain confident and optimistic that the implant business can succeed if we consolidate operations into other 3M locations," said Larry Lair, vice president and general manager, 3M ESPE. "Consolidation will make it easier to integrate with 3M systems and to gain efficiencies by taking advantage of other resources within 3M."
The facility, formerly IMTEC Corp., was acquired by 3M in July 2008. Approximately 125 positions are affected by the closing of the facility. Some positions will be relocated. Employees that do not have the option to relocate, or choose not to relocate, will be eligible for severance benefits.
One of the world's largest suppliers to the dental industry, 3M manufactures and markets a wide range of products and services used by dental professionals worldwide to improve oral health. These products are designed to meet restorative, prosthodontic, crown and bridge, orthodontic, preventive, infection control, and cosmetic dentistry needs.