PORTLAND, Maine — Precision parts manufacturer Midstate Berkshire plans to lay off about 70 employees as it consolidates facilities in Waterville and Winslow.
The Sun Journal reported the Westfield, Massachusetts-based company attributed the cuts to a downturn in the company’s key markets, which include the aerospace, defense and oil industries.
Duane Pekar, the company’s CEO, said in a news release that the company would reduce costs in other areas, awaiting an improvement in market conditions.
The company has about 250 employees and was acquired by the Texas-based private equity firm Insight Equity Holdings LLC in January 2014.