FLORENCE, S.C. — A welding and cutting products firm has announced it is closing its Florence plant with a loss of 300 jobs.

The Morning News of Florence reported that ESAB Welding and Cutting Products announced Wednesday the site will close by March 31, 2016.

The company said severance benefits, health care and placement assistance will be provided to those losing their jobs.

ESAB President Clay Kiefaber said in a statement that the move is part of a restructuring plan. He said the company is retaining a commercial presence in Florence with some sales, marketing, communications, and human resources staff, but he did not say how many.

The company is merging the Florence operation into those at Denton, Texas, and Hermosillo, Mexico. The firm employs 8,700 people in four continents.

--

Information from: Morning News, http://www.scnow.com