Minerals and materials firm Covia has announced it will close its New Canaan facility, laying off 60 employees.
According to the Connecticut Department of Labor Warn Notice , Covia made the announcement last week that it will begin closing the plant in the first quarter of 2019 with a complete closure date of 2020.
Covia, located at 258 Elm St., became a business following a May merger of New Canaan-based Unimin Corp. with Independence, Ohio-based Fairmount Minerals.
According to shareholder reports, the company reported a net loss of $289 million for the last quarter, caused by pre-tax impairments, restructuring, and merger-related charges.
Covia employs more than 3,000 in the U.S., Canada, and Mexico. They are the largest seller of “proppants” used in the fracking process.
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