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FT. COLLINS, CO – RPM Electronics Inc. will close by the end of April and lay off its remaining 70 workers.

As reported by Circuits Assembly in December, the electronics manufacturing company previously was expected to close in February.

In published reports, RPM chief executive Chuck Mann cited the loss of business from RPM’s two main customers, Advanced Energy and Plasmon. Those OEMs made up 55% of RPM's sales and have started outsourcing its work to China.

Mann is also COO of RAD Electronics, which acquired RPM in March 2008.

ELKHART, IN – CTS Corp. reported fourth-quarter net earnings fell 26% to $5.7 million on a 9% drop in sales. The results include restructuring and related costs.

TOKYO – Omron Corp. reported net sales for the nine months ended Dec. 31 decreased 10.6% year-over-year to 499 million yen. Operating income fell 61.4% to 16.7 million yen during that time. Earnings before taxes fell 66.5% to 14,740 million yen, and net income was down 69% to 9.1 million yen.

The company is forming a new division, headed by president and CEO Hisao Sakuta, responsible for ensuring that emergency measures and structural reforms spearheaded by the head offices are swiftly and steadily implemented. Those steps include withdrawing from unprofitable businesses, suspend large-scale investments, and implement further cost-cutting in order to reduce costs by 40 billion yen. The company will restructure its three control businesses (industrial automation, electronic components, and automotive electronic components) and consolidate global production bases.

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