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(WBIR) More than a hundred people will lose their jobs after a muffler plant in Loudon closes its doors in 30 days.

Maremont/IMCO Vice President and General Manager Jim Kozar announced the decision Friday and said 150 employees will lose their jobs. The company is blaming economic reasons for the planned closure. Recently Maremont/IMCO unexpectedly lost its largest customer.

Currently the company is working on possible severance packages. Production could continue for a few days after the final day in mid-October.

The company has been located in Loudon since 1969.

Maremont specialized in aftermarket exhaust with a full range of mufflers, catalytic converters, performance exhaust, pipes and accessories.

This isn't the first time hard times fell upon Maremont. In February 2007, employees organized an eight month strike against Maremont. At that time, more than 100 employees walked out of the plant, citing insurance costs, seniority rights, and no raises.

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