ZURICH -- Cicor will close its PCB production site in Unterägeri and transfer manufacturing to its Boudry headquarters by the end of February, the company said.

The decision to close the Photochemie AG printed circuit board unit will put 43 employees out of work, Cicor said. The Boudry site has offered positions to 10 employees.

The company said the restructuring costs will have an adverse impact on its 2011 results.

"Against the background of the market situation which remains difficult in the semiconductor industry and the collapse of demand for highly complex circuit boards in niche areas, the unification of manufacturing capacities will enable the PCB Division to optimize its organization and increase its operational efficiency," Cicor said.

Follow us on Twitter: @mikebuetow