ZURICH – Cicor will restructure its PCB and EMS operations and take about $5 million in one-time charges due to pending layoffs, the company said today.

As part of the restructuring, Cicor will merge two PCB production locations in Switzerland, consolidating Cicorel SA in Moudon into a site in Boudry.

The company will also close its EMS customer support operation in Quartino, relocating all operations to division headquarters in Bronschhofen.

The company will lay off an undisclosed number of workers in Moudon and Quartino and take CHF4.9 million in charges.

The firm also lowered its outlook for 2015. It now expects sales of CHF180 million ($184 million) in 2015 and for the net profit before restructuring costs to fall significantly below 2014's figure. "Due to these nonrecurring costs and in light of a weak third quarter as well as the ongoing difficult market situation, Cicor is reducing expectations for the full fiscal year," Cicor said.

1 CHF = $1.02328

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