Power-One to shut facility
Camarillo-based Power-One announced plans May 27 to close its Dominican Republic facility by the end of the first quarter in 2010.
The facility in the Dominican Republic employs about 900 people who manufacture the company’s custom and standard AC-DC and DC-DC product lines. Severance and other closure costs are expected to be approximately $13 million to $15 million to be incurred through the second quarter of the fiscal year 2010, including certain non-cash charges of approximately $3 million to $5 million.
Power-One officials said they will transition the products to its plant in China, a move that is expected to save the company more than $14 million annually.
Are you a subscriber? If not, sign up today for a four-week FREE trial or subscribe and receive the 2009 Book of Lists free with your purchase.
