Choctaw Electronics lost a contract this month. Ford Motor Company announced a cancellation of its agreement to build automobile speakers.
There have been rumors Choctaw Electronics would close. Company CEO Bob DePerro responded.
"What has happened is they're commodity speakers and eventually they'll be moved off shore," said DePerro. "Consequently we want to get into some kind of business that we know or feel comfortably confident that we're going to be able to stay in the United States."
DePerro said there are negotiations to that effect now going on and he hopes to be able to announce an agreement sometime next month.