Ethanol plant builder ICM lays off 105

BY PHYLLIS JACOBS GRIEKSPOOR

The Wichita Eagle

ICM Inc., the nation's leading designer of ethanol plants, has laid off 105 employees.

ICM officials blamed the layoffs on a sluggish economy that has weakened the U.S. dollar and made it difficult to find lenders to fund domestic projects.

The layoffs affect multiple departments at ICM, which had been on a rapid growth curve over the past several years. Before the layoffs, ICM had more than doubled the size of its headquarters in Colwich, building two new office projects. It employed 671 workers before the layoff.

Affected workers were notified Tuesday and were given information on extended benefits and severance pay.

"This is in no way a reflection of the valued work performed by our employees," said Dave Vander Griend, president and chief executive of ICM. "During recent quarterly employee luncheons, I have addressed the volatile market conditions that have persisted, such as commodity market concerns and the projects slowdown."