Latest from Mag
People - Dec 21, 2012
Obituaries - Dec 21, 2012
November EPI Index Shows No Change
Housing Starts Dip 4% in November
Electrical Marketing - December 21, 2012
Around the Industry - Dec 21, 2012
Belden CDT Inc. said that it would close some operations as part of cost cutting related to the merger of Belden and CDT earlier this year.
The facilities rationalization plan is aimed at achieving $25 million in annual net savings from the merger between Belden Inc. and Cable Design Technologies Corp.(CDT) through which Belden CDT was formed in July 2004.
The St. Louis company said it plans to close its Montrose cable operation in Auburn, Mass., which employs about 100 people, by early 2005. It will also close a subsidiary that supplies cable to the aerospace industry, Barcel, located in Irvine, Calif.
The company said it is also in talks to close its plant in Skelmersdale, Lancashire, England, which employs about 220 people. Belden CDT also plans to halt production of some products in the Netherlands.
The company said the cash costs of the moves would total about $22 million, but would be “significantly offset” by selling factory equipment and liquidating working capital.