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Synergetics USA Inc Announces Plan to Close King of Prussia, PA Facility and to Consolidate Manufacturing Operations in O'Fallon, MO


Tuesday, 1 Oct 2013 05:22pm EDT 

Synergetics USA Inc announced that it plans to close its King of Prussia, Pennsylvania facility and consolidate the manufacturing operations into its existing facility in O'Fallon, Missouri. The King of Prussia facility manufactures the Company's bipolar electrosurgical generators, including the neurosurgical, pain-control and related irrigation units, and employs approximately 24 workers. Manufacturing that is currently performed in this facility will be transitioned to the O'Fallon facility. These products represented approximately 11% of total Company sales in fiscal year 2013. The Company expects all closing and consolidation activities to be completed by the end of calendar year 2014. The affected employees in King of Prussia, PA, have been previously notified of the job reductions. These activities are expected to cost the Company approximately $900,000 over the next 14 months. The Company expects the announced activities to result in a reduction in operating expense of more than $1.0 million on an annualized basis beginning in fiscal year 2016. 

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4.5
0.22 +5.14%
19 Dec 2014