* Sees related charge of about $2 mln
* Expects annual savings of about $4 mln
* To merge New Jersey operations with San Jose unit
Sept 7 Dental products maker Align Technology
Inc said it will shut its New Jersey unit and cut 119
jobs to reduce operating costs.
The company, which has a global headcount of about 2,400,
expects to take a charge of about $2 million from the unit
closure and job cuts.
Of this, it expects to record about $1.1 million this year
and $900,000 by the third quarter of 2012. Align does not expect
these charges to hurt its 2011 earnings.
The company, which makes teeth-alignment systems, expects to
save about $4 million annually from the consolidation that is
expected to start in the fourth quarter and to be completed by
the third quarter of 2012.
Align said it will combine the computer-aided design,
manufacturing and scanner-related activities based in Carlstadt,
New Jersey with its existing manufacturing unit at San Jose,
In March, the company bought privately held Cadent Holdings
Inc for $190 million in cash to expand its presence in
Shares of Align Technologies closed at $17.60 on Tuesday on
(Reporting by Zeba Siddiqui in Bangalore; Editing by Roshni