MOSS, NORWAY – PartnerTech has shifted stream at its electromechanical plant here, opting to shutter the site by mid year.

In November, the EMS company said it would reorganize the local subsidiary, but on Jan. 11 its board of directors decided to close the facility. Most of the shutdown process is expected to conclude by June 30.

The firm expects to take $5.4 million to $8.1 million in charges related to the closing, primarily in the first quarter of this year.

PartnerTech AS had revenue of about EUR 6.2 million and an operating loss of EUR 4.1 million for the 12 months ended Sept. 30. The site fabricates sheet metal and other electromechanical enclosures.

Submit to FacebookSubmit to Google PlusSubmit to TwitterSubmit to LinkedInPrint Article
Don't have an account yet? Register Now!

Sign in to your account