Shelby Industries, LLC, closed its doors Tuesday after 34 years of operation.
Founded in 1982, company engineered, manufactured and marketed Shelby brand trailer couplers, trailer jacks and mechanical winches for over a generation. Shelby also offered contract manufacturing to companies in the Kentucky and Southern Indiana region.
Employees, customers and suppliers were all informed of the closure Tuesday, the company said. The company currently employed 30, but at its peak, Shelby employed over 110 associates. Shelby said for current employees advance arrangements were made to interview for positions with area companies.
In recent years, the company said it had witnessed significant market erosion as foreign competition provided equivalent product 20 to 25 percent below its material costs. Recent efforts to modernize the facility and diversify revenue streams through contract manufacturing services have not proved enough to enable the firm to outperform market forces in the present economy.
“On behalf of my family, I want our community and anyone ever connected with Shelby to know how thankful we are for their valuable years of service, support and encouragement,” said CEO Vivek Sarin. “To all of our employees, both past and present, no words can capture the gratitude that we feel for your dedication, your service and your hard work over the years. To our supplier partners, we appreciate your years of exceptional service and will miss the dynamics of manufacturing and working with you. Finally, to our industries and the community, we are indebted for the years of support, recognition and opportunities to serve you and give back. Shelbyville, Ky. is a wonderful location to conduct business and we encourage our neighbor businesses to invest deeply in this community and its people.”
In coordination with Shelby’s bank, efforts are underway to facilitate the sale of all equipment and product line assets.