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Exfo Closing Upstate NY Plant

Photonics.com
Sep 2004
QUEBEC CITY, Sept. 24 -- Exfo Electro-Optical Engineering Inc., a Quebec City maker of testing and manufacturing equipment for the telecommunications and life sciences industries, announced it is consolidating its life sciences/photonics division by transferring Exfo Burleigh Products Group Inc., in Victor, N.Y., to its Toronto facility. The move will result in a loss of 25 jobs at the upstate New York plant.

The company said Thursday it expects to incur $2.7 million in restructuring and other charges as a result of the consolidation, which is expected to streamline operations and result in $1.5 million in annual savings.

The Victor, N.Y., operation was acquired in November 2000 when Exfo bought privately held Burleigh Instruments Inc. for $40 million in cash and Exfo shares then valued at $235 million (See Photonics.com, "Burleigh Acquired by Exfo for $275 Million").

Pierre Plamondon, Exfo's vice president of finance and CFO, said of the announcement, "It is a move that will tighten the market focus of our Photonics and Life Sciences Division and improve the company's long-term operating model. Given that $1.3 million of the total restructuring plan is mainly related to asset impairment, our annual savings should enable us to offset our cash expenses within a year."

Exfo said its telecommunications division, based in Quebec City with a site in Montreal, accounts for about 80 percent of its business.

For more information, visit: www.exfo.com



GLOSSARY
photonics
The technology of generating and harnessing light and other forms of radiant energy whose quantum unit is the photon. The science includes light emission, transmission, deflection, amplification and detection by optical components and instruments, lasers and other light sources, fiber optics, electro-optical instrumentation, related hardware and electronics, and sophisticated systems. The range of applications of photonics extends from energy generation to detection to communications and...
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