Peavey to Close Foley Plant

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Mississippi-based Peavey Electronics will close its plant in Foley, Ala., eliminating about 80 jobs.

The company is the world's largest manufacturer of audio speakers, amplifiers and musical instruments, including electric guitars, drums and keyboards.

The factory, which opened in 1992, produced aluminum and steel-frame speakers, high-frequency "drivers'' and microphones.

In a statement, the company blamed competition and foreign imports for the closing.

A company spokesman said the plant will cease operations this summer, but the exact date has not been set.