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Power-One Selling Caribbean Facility

Power-One Inc. expects to save $14 million to $15 million when it closes its manufacturing facility in the Dominican Republic next year. The Camarillo-based maker of power conversion and management products will shift the product lines made in the Dominican Republic to China and contract manufacturers. Severance and other closure costs are expected to be $13 million to $15 million and will be incurred through the second quarter of fiscal year 2010. The closure is part of a global restructuring to improve operational performance, said Power-One CEO Richard Thompson. “This restructuring action creates a more efficient manufacturing model that improves our ability to respond to customer requirements in a cost-effective manner,” Thompson said. Mark R. Madler

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