Waterloo company closing its doors - KWWL - Eastern Iowa Breaking News, Weather, Closings

Waterloo company closing its doors


WATERLOO (KWWL) -- The president of Progressive Tool Company, at 1624 Black Hawk Street in Waterloo, has announced that the company will be closing its doors.

Carl Meyer says that after a review of "strategic business alternatives", the company will wind down operations and be out of business no later than June 30th after 60 years of operation.

Meyer adds that he and other former employees will join the tooling, dies and systems division of Doerfer Companies TDS Automation in Waverly.

TDS Automation has locations in Waverly and Waterloo and employs around 120 people. 

Their parent company, Doerfer Corporation, employs over 500 people at it's Iowa, Illinois, Tennessee and South Carolina plants.

Progressive Tool Company currently employs less than a dozen people.

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