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Planar to Close EL Factory and End Photonics Business
Aug 2002
BEAVERTON, Ore., Aug. 19 -- Planar Systems Inc., a developer of flat-panel display systems, will consolidate its electroluminescent (EL) display panel production into a single factory and will end its photonics initiative. The company will close its Evergreen EL plant in Hillsboro, Ore., and cut its 35-person work force there in the next twelve months.
Planar's EL panel manufacturing will be transferred to its Espoo, Finland, facility.
Planar's photonics business, launched in early 2001 to deploy the company's proprietary thin-film deposition and liquid-crystal technology into the telecommunications market, will also be closed, and 20 jobs will be cut at the company's Beaverton and Lake Mills, Wisc., factories.
"Our production teams have accomplished significant yield improvements over the past year, making possible the cost savings expected from this consolidation," said Balaji Krishnamurthy, president and CEO. "At the same time, our forecasts show declining demand for monochrome displays. EL-based systems remain a superb solution for certain applications and we will continue to serve those needs, but as the market changes to demand more full-color products, Planar continues to change, too."
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