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INDEPENDENCE — Former Med-Fit Systems employees are being called back to work at the reopened Nautilus plant in Independence, but company representatives and Grayson County officials said no details about the fitness equipment facility’s future could be released before Wednesday.
Gov. Terry McAuliffe’s office was set to announce the sale on Wednesday.
For the full story, see www.galaxgazette.com Wednesday morning or pick up Wednesday's edition of The Gazette.
Sources close to the deal reported that the former Med-Fit plant has been sold to another fitness company and will go back into operation making exercise products under a contract with Nautilus Home Fitness Equipment.
Med-Fit acquired the Nautilus brand and the local plant in February 2010. The new owner would reportedly continue producing Nautilus equipment, possibly adding other product lines, as well.
Information about the sale was expected to come in the form of a news release, rather than a formal announcement, said Grayson County Administrator Jonathan Sweet.
In June, Nautilus Chief Operating Officer Bill McMahon said there had been substantial interest in the plant from potential new owners. “We’re big fans of the team in Independence, and we hope everything works out for them,” he said.
After two rounds of layoffs affecting nearly 100 workers, Med-Fit announced in April that the plant at 709 Powerhouse Road and its manufacturing assets had been put up for sale. April 21 was the last day of normal production operations at the plant.
Following the April layoffs, Med-Fit owner Dean Sbragia told workers that the company was “engaged in an ongoing review of our operations and operational structure to evaluate our best options to move Med-Fit forward in today’s market environment.”
Company officials had said they expected to find a “synergistic partner” who will be able to take over the Nautilus brand and make it competitive.