On July 16, Salford Group announced that it was closing its Osceola manufacturing plant, a move which will lay off 51 workers.
Salford Group is a Canadian company that makes farm equipment such as tillage, crop fertilizer and applications. Salford was purchased by a different Canadian-based company in 2022, Linamar Corporation for $260 million Canadian in a move to add Salford to their line of agricultural equipment.
Salford expanded to Osceola in 2007, at the time employing about 20 people. An article in a 2010 Osceola Sentinel-Tribune quoted then-Salford General Manager, now president, Geof Gray as saying,
“Salford has created stable jobs in Osceola…Agriculture has not taken as big of a hit as a lot of other industries. We’ve been able to keep a solid workforce.”
He was also quoted as saying that developing in the region was a focus for the company, and they wanted to continue to grow, being a part of Iowa.
In 2015, during a visit from then-Iowa Secretary of Agriculture Bill Northey, it was noted that while the ag environment was becoming more volatile, Salford said that a “softer market” hasn’t had a bad impact. They’d used strategic planning and seasonal sale preparation, positioning themselves to benefit when the market would rebound.
According to the U.S. Department of Agriculture, farm incomes in fall of 2024 are expected to fall by 25.5%, due to lower corn, soybean, wheat and other commodities coupled with higher production costs. The increase in interest rates are also hindering the ability of farmers to buy larger equipment, such as what Salford offers.
In addition to their Osceola plant, Salford has a production facility in Georgia, and distribution centers for parts in North Dakota and Ohio. Salford is headquartered in Salford, Ontario, Canada, and Linamar is based out of Guelph, Ontario, Canada.