Cornerstone to Close Immediately

11-12-05 - DURANT, Okla. (AP) A Durant plastics molder company will close its doors tomorrow after more than 20 years in the business.

The bankrupt Cornerstone Products, Incorporated, is shutting down after higher resin and energy costs forced the company to stop production.

About 150 Oklahomans will have to look for a new job.

Executive Director of the Durant Industrial Authority Tommy Kramer says other companies in Durant are expanding and may hire some of the former Cornerstone employees.

Cornerstone was a key contractor for Rubbermaid until 1999 when Rubbermaid began making its own molded products.

Cornerstone then debuted its own line of products and saw sales rise to 96 million-dollars by 2004.

Wal-Mart, Home Depot and Target were among the large retailers that stocked Cornerstone goods.