IFR Systems to Consolidate Optics Manufacturing in US
WICHITA, Kans., April 26 -- IFR Systems Inc. will close its plant in Chandlers Ford, England and consolidate the manufacturing operations of its Optical Test & Measurement Division into its Beaverton, Oregon facility. The company expects the consolidation to contribute to a $2.0 million reduction in annual costs upon its completion in late 1999.
Personnel reductions and other actions related to the consolidation will result in a charge of approximately $1.0 million in the quarter ended March 31, 1999, and additional charges of approximately $500,000 over the next 12 months. According to Alfred H. Hunt III, president and CEO of IFR Systems, the company is expected to be profitable before this charge in the March quarter.
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