A Bradford business with more than 500 workers is shutting its doors in 2015.

Citing the plant’s poor performance over the past several years, Faurecia let its employees know they will be out of work, some as early as February.

The company declined to speak with us on camera but in a news release Stacie Tong, director of communications for Faurecia North America, says the company said the Bradford plant became too expensive because of the rising cost of fuel, steel, and other supplies used to make car seats and frames.

Bradford Mayor Doug White says the loss is significant.

“It's very significant, 500 jobs in a town our size, there is no way to sugar-coat it, it's a very difficult thing,” he says. “But moving forward we have to make sure that Bradford continues to be a place that is open to businesses all sizes and shapes.”

He adds, “Job one will be to do everything possible to keep them and if that's not possible than we will do everything possible to bring in a major business at that location.”

The mayor also said the town will do whatever it can to help get workers any additional skills training they need to find new jobs.

While the plant won't officially close until mid-2015, in an email from an employee this afternoon CTV Barrie was told the plant will stop production next year, with most employees’ last day of work being Feb. 24, 2014.

Faurecia is an automotive supplier that provides seating, emissions control technology, interior systems and exteriors. It employs close to 100,000 people in 34 countries. Faurecia’s North American division had sales of $6 billion last year.