UPDATE 1-Belden to close plant in Connecticut; cut jobs
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March 25 (Reuters) - Cable manufacturer Belden Inc (BDC.N) said it will close its Manchester, Connecticut-based plant, affecting 132 jobs, as part of a restructuring of its North American manufacturing operations to cut costs.
The company, which plans to close the unit by September, said it expects a charge of between 11 cents and 16 cents per share.
With the restructuring, Belden expects cost savings of about $5 million annually, beginning in 2009.
The Manchester plant makes copper cable products primarily for data networking and other units will assume the production activities of the plant, it added.
The company said it will also take advantage of its lower cost capacity at the recently completed Nogales, Mexico plant. (Reporting by Supantha Mukherjee in Bangalore; Editing by Gopakumar Warrier)
