Carbo told the Louisiana Workforce Commission that it closed the plant “due to market conditions and business needs.”
The 61 employees are expected to be laid off by 17 June.
The New Iberia plant has the capacity to produce 300 million pounds of resin-coated sand annually but analysts at investment bank Iberia Capital Partners said the company only sold 19 million pounds of resin-coated sand in all of 2015, compared to 162 million pounds in 2014 and 241 million pounds in 2013.
“Last
