L-3 to Consolidate Electron Devices Business Into Existing Operations
May 16 2016 - 12:51PM
Business Wire
– Company Plans to Close San Carlos, California
Facility in 2017 –
L-3 Communications (NYSE:LLL) announced today that it plans to
close its Electron Devices facility in San Carlos, California, in
late 2017 and transition its manufacturing operations to the North
Central Pennsylvania and Los Angeles areas. The consolidation
initiative, which is part of the company’s ongoing strategic effort
to increase efficiencies across its operations, will take place
throughout 2017. Employees at the affected L-3 Electron Devices
location in San Carlos will be offered employment at one of the two
L-3 locations or given appropriate notice and severance assistance.
The San Carlos facility currently employs 314 professionals.
“We take decisions that affect our employees and customers very
seriously, which is why we are rolling out a phased plan for the
gradual consolidation of this facility to ease the transition and
ensure continuity of customer service,” said Michael T. Strianese,
L-3’s chairman and chief executive officer. “We are focused on the
long-term future of L-3 and are taking strategic, deliberate
actions to improve the company’s overall operations and enhance our
competitive positions and future growth. We are pursuing these
actions with vigor so that we stay aligned with our customers and
end users who rely on L-3 products and services.”
L-3 Electron Devices is a leading worldwide supplier of
microwave vacuum electron devices and related products. Its
ISO-9001 certified facilities produce a wide variety of products
for the defense, industrial, medical, broadcast, test and
scientific markets, including Microwave Power Modules (MPMs),
Traveling Wave Tubes (TWTs), magnetrons, klystrons, thyratrons,
Crossed-Field Amplifiers (CFAs), electron emitters, Inductive
Output Tubes (IOTs) and Constant Efficiency Amplifiers (CEAs). To
learn more, please visit the company’s website at
www.L-3com.com/edd.
Headquartered in New York City, L-3 employs approximately 38,000
people worldwide and is a leading provider of a broad range of
communication and electronic systems and products used on military
and commercial platforms. L-3 is also a prime contractor in
aerospace systems. The company reported 2015 sales of $10.5
billion.
To learn more about L-3, please visit the company’s website at
www.L-3com.com. L-3 uses its website as a channel of distribution
of material company information. Financial and other material
information regarding L-3 is routinely posted on the company’s
website and is readily accessible.
Safe Harbor Statement Under the Private Securities Litigation
Reform Act of 1995Except for historical information contained
herein, the matters set forth in this news release are
forward-looking statements. Statements that are predictive in
nature, that depend upon or refer to events or conditions or that
include words such as “expects,” “anticipates,” “intends,” “plans,”
“believes,” “estimates,” “will,” “could” and similar expressions
are forward-looking statements. The forward-looking statements set
forth above involve a number of risks and uncertainties that could
cause actual results to differ materially from any such statement,
including the risks and uncertainties discussed in the company’s
Safe Harbor Compliance Statement for Forward-Looking Statements
included in the company’s recent filings, including Forms 10-K and
10-Q, with the Securities and Exchange Commission. The
forward-looking statements speak only as of the date made, and the
company undertakes no obligation to update these forward-looking
statements.
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version on businesswire.com: http://www.businesswire.com/news/home/20160516006330/en/
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