December 24, 2008
Terramite sold to Kansas company
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Terramite, a Cross Lanes-based company that manufactures compact construction machinery, has been sold to Wichita, Kan.-based Coneqtec-Universal Construction Products.

Coneqtec-Universal President Gary Cochran said he plans to reopen the Terramite plant on Dec. 29.

Some Terramite employees have been interviewed in recent days about jobs that might open up when Coneqtec-Universal reopens the facility on Goff Mountain Road, he said.

Like Terramite, Cochran's company manufactures small construction machinery.

"We purchased the assets of Terramite," Cochran said. "We had some of my people there over the weekend. The deal was closed on [Dec. 19]. We wanted to talk to all the employees personally. We interviewed on Friday and Saturday."

Former Terramite employees who might be rehired can expect a letter in the next week. On Tuesday, Cochran said the letters would be mailed in the "next day or two."

He declined to say how many former Terramite employees could be rehired. He said another Coneqtec-Universal official was considering the number Tuesday.

Cochran was not immediately sure how many workers Terramite employed before the plant closed Friday.

"What I've heard is this company's bought them out," said Kanawha County Commission President Kent Carper. "I'm very concerned about it. I'm concerned about the company and the employees."

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Posted By: Vito (9:05pm 12-24-2008)
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This sale of Terramite is just like other purchases of other companies . They will re-hire a few former employees, then move it, or re-sell the company to others or bankrupt it....

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