LIMESTONE — A business that got its start overhauling military Humvees and trucks is preparing to slash its workforce by more than half because of reduced demand, officials said Friday.

Maine Military Authority intends to cut up to 140 jobs beginning in October because of the drawdown of troops and equipment in Iraq and Afghanistan, the company said. MMA currently employs 210 workers.

CEO Tim Corbett says the company will do everything it can to minimize layoffs.

“In addition to working closely with the National Guard Bureau, we are aggressively seeking qualification as a certified vendor for the refurbishment of transit buses from state and regional entities,” he said. MMA is also seeking to overhaul ambulances, fire trucks and school buses.

Created in 1997, the Maine Military Authority, a quasi-state agency, has refurbished more than 14,000 military vehicles at the former Loring Air Force Base in Limestone.