ImagePoint closes Florence plant

[Erik Sine]

ImagePoint closes Florence plant

Friday, January 9, 2009, 12:16pm EST | Modified: Friday, January 9, 2009, 1:22pm

Business Courier of Cincinnati - by Jon Newberry Staff Reporter

ImagePoint has shut down its sign manufacturing plant in Florence, idling about 180 full-time and part-time employees.

The Knoxville, Tenn.-based manufacturer said in a press release that it’s immediately terminating its sales and manufacturing operations and seeking buyers for parts of its business. Some employees will continue for a few weeks to finish installations already under way, it said.

Bill Edge, former general manager of the Florence facility, said he was told the company is being liquidated by its creditors. Edge was abruptly terminated Friday morning after two men from the parent company showed up unannounced in Florence and gave him the news, he said. They told him they were instructed to shut down the machinery and turn off the power.

Jim Martin, ImagePoint’s CEO in Knoxville, said in the statement that it was forced to close because of poor economic conditions, and particularly their impact on automotive and restaurants businesses.

ImagePoint makes large illuminated signs for national accounts such as McDonald’s, GM and Chevrolet dealers, John Deere, and 7-Eleven. It was previously known as Plasti-Line before changing its name in 2003. Plasti-Line had acquired Northern Kentucky-based American Sign in the 1980s.

ImagePoint last year closed a plant in Columbia, S.C., and consolidated those operations in Florence.

Martin said ImagePoint is in a good position to sell parts of its business to competitors.

One competitor in the sign business is Blue Ash-based LSI Industries (NASDAQ: LYTS). LSI earlier this week lowered its earnings and sales forecast for 2009, citing the recession. Profits and sales in its signs-and-graphics division declined 77 percent and 40 percent, respectively, in its latest reported quarter that ended Sept. 30, 2008.

[Neonleon2009]

ImagePoint closes Florence plant

Friday, January 9, 2009, 12:16pm EST | Modified: Friday, January 9, 2009, 1:22pm

Business Courier of Cincinnati - by Jon Newberry Staff Reporter

ImagePoint has shut down its sign manufacturing plant in Florence, idling about 180 full-time and part-time employees.

The Knoxville, Tenn.-based manufacturer said in a press release that it’s immediately terminating its sales and manufacturing operations and seeking buyers for parts of its business. Some employees will continue for a few weeks to finish installations already under way, it said.

Bill Edge, former general manager of the Florence facility, said he was told the company is being liquidated by its creditors. Edge was abruptly terminated Friday morning after two men from the parent company showed up unannounced in Florence and gave him the news, he said. They told him they were instructed to shut down the machinery and turn off the power.

Jim Martin, ImagePoint’s CEO in Knoxville, said in the statement that it was forced to close because of poor economic conditions, and particularly their impact on automotive and restaurants businesses.

ImagePoint makes large illuminated signs for national accounts such as McDonald’s, GM and Chevrolet dealers, John Deere, and 7-Eleven. It was previously known as Plasti-Line before changing its name in 2003. Plasti-Line had acquired Northern Kentucky-based American Sign in the 1980s.

ImagePoint last year closed a plant in Columbia, S.C., and consolidated those operations in Florence.

Martin said ImagePoint is in a good position to sell parts of its business to competitors.

One competitor in the sign business is Blue Ash-based LSI Industries (NASDAQ: LYTS). LSI earlier this week lowered its earnings and sales forecast for 2009, citing the recession. Profits and sales in its signs-and-graphics division declined 77 percent and 40 percent, respectively, in its latest reported quarter that ended Sept. 30, 2008.

[SusanatPersona]

Hi there. I'm writing from Persona, Inc. A solid, quality and service oriented, privately held sign manufacturing firm in Watertown, South Dakota...I just want to share that our firm has positions for those with sign-building experience: we are seeking layout-sign designers (CAD/CAMP)...someone who can work with computer software and take the flat images to 3D for cutting metal, constructing and welding, wiring and so forth.

We also seek sales executives (Division Manager and Sales VP) and a Marketing Manager. All these positions are due to growth and our firm's financial strength and stability in these challenging times.

We are a significant competitor in the sign manufacturing industry...I am the recruiter for PERSONA, Inc. and invite you or those you know seeking work in any of these areas to email me. I'll provide job descriptions and answer any questions. My email: sfisher@persona-inc.com .

Meanwhile, to all those who recently lost their jobs with ImagePoint...good luck --I hope you're blessed quickly with a good solid 'next' job.

Take care all!