Wednesday, May 27, 2009
Power-One Shuts Facility
Camarillo-based Power-One, a manufacturer of power supplies and related components, announced today that it plans to close a facility in the Dominican Republic, by the end of the first quarter of 2010. The firm said the decision is a part of a move to "realign" its global manufacturing and sourcing. The closure means the loss of 900 jobs in the Dominican Republic, where the firm manufactured AC-DC and DC-DC power products. The firm said it will have closure costs of $13 to $15M through Q2 of 2010, but will save approximately $14 to $15M annually from the closure of the facility. Power-One said the products will be transitioned to its plant in China, joint ventures, and contract manufacturers.