Racemark lays off 36, ships work to Ga. plant - The Business Review (Albany):

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Employees were notified July 2 that the company will move most of its operationw to its plantin Ga., CEO Ginger Cannon Bailey said. Racemark makews luxury floor mat for such manufacturerdas , , , and Honda. All 36 most of whom work in manufacturing, were offerefd the same positions at the Georgia Bailey said. About 20 people will remainj at theMalta location. Racemark’s Switzerland operations will continue toemploh 20; 40 people currently work at the Georgiz plant, Bailey said. She said the companyh has a “very strong balance sheet” and has farede better than many other automotive manufacturers inthis recession.
Sales have slowexd at Racemark, but the company does not sell to anyof Detroit’x automakers—the manufacturers hardest-hit by the recession. The company had some layoffs in late but those were the first since the compantwas founded, Bailey said. Her husband, former professional race car driveBob Bailey, started the company in 1964 to manufacturr racing safety equipment. Bailey said it becamr too costly to operatetwo U.S. plants. Most of the suppliews for the company’s mats come from the so moving most of its manufacturingy to Georgia madefinancial sense, Bailey “It’s a move that will make the companh stronger and healthier,” she said.