Still, far fewer tanks are coming out of the Lima plant than in years past. The drop-off has affected companies such as Verhoff Machine and Welding in Continental, Ohio, which makes seats and other parts for the Abrams. Ed Verhoff, the company's president, said his sales have dropped from $20 million to $7 million over the past two years. He's also had to lay off about 25 skilled employees and he expects to be issuing more pink slips in the future."When we start to lose this base of people, what are we going to do? Buy our tanks from China?" Verhoff said.
Army Says No To More Tanks, But Congress Insists
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
More than 30 investing pros with skin in the game give you actionable insight and investment ideas.