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Restructuring Proposed for Neltec in France |
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Written by Administrator
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Thursday, 30 August 2007 |
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MIREBEAU, FRANCE – Neltec Europe SAS, a maker of PCB laminates, is proposing to restructure its Mirebeau operations and reduce workforce in response to demand shifts from Europe to Asia.
Neltec has begun an employee consultation process in accordance with French law. If the proposal is implemented, the company expects to record a one-time charge of approximately $1.5 million in the fourth quarter.
Neltec is owned by Park Electrochemical Corp. The restructuring will not affect the Neltec business unit in Lannemezan, France.
Neltec will continue to support its existing customers if the proposed restructuring is implemented.
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