The State of Illinois Labor Department is reporting that a Cary company is “relocating” and laying off sixty employees in the process.
Thermtrol MGI Global, located on Alexander Court, describes itself as a motor vehical electrical and electronic equipment manufacturing company.
MGI Global was sold to Thermtrol- shareholders of MGI did very well, and MGI’s production capacity is being tranferred to Thermtrol’s production facility in Vietnam.
That’s what happens when you sell your business to a firm that manufactures nothing in North America.
Another company goes ‘Galt’.