AeroVironment Inc. has moved its headquarters to Simi Valley from Monrovia, according to media reports.
The Los Angeles Times reported Monday that the drone manufacturer made the move official on Nov. 29 and that all employees at the Monrovia facility are being given the opportunity to move to Simi Valley by the summer.
AeroVironment has for years developed, manufactured and tested its drone aircraft in Simi Valley.
“This is more of an administrative move, as well as a recognition that Simi Valley is where our business is taking shape and it’s where we’re coordinating our growth opportunities,” the Times quoted Steve Gitlin, the company’s vice president of corporate communications.
The move to Ventura County comes after AeroVironment sold its efficient energy systems business over the summer to automotive supplier Webasto Group. That business made electric vehicle charging stations and was based in Monrovia. Gitlin told the Times that the remaining employees in that office primarily work in corporate functions and finance.
Shares in AeroVironment (AVAV) closed Monday down $3.29, or 4.3 percent, to $73.31 on the Nasdaq.