A Hannibal manufacturer announces they will be closing by the end of the year.

According to a press release Wednesday from ContiTech, the Cosmoflex plant on Industrial Loop Road is being closed with its operations moved to a new state-of-the-art plant in Mt. Pleasant, Iowa, to, quote, “optimize our manufacturing footprint.”

Cosmoflex has produced rubber and miscellaneous plastics products in Hannibal for about a decade.

ContiTech says 45 local employees will be affected by the closing. They have pledged to find the best solution for those employees.

This follows the news in February that Buckhorn Rubber would be closing its doors by the end of 2017.