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Littelfuse Inc., Des Plaines, Ill., plans to transfer its Chicago-area production and distribution operations to low-cost overseas sites.
The company expects to generate approximately $10 million in annual savings once the transition is completed.
Littelfuse said manufacturing operations in the Des Plaines facility will be moved to existing company locations in Mexico for automotive products and the Philippines for electronic products.
The company employs about 600 people in the Chicago area. About 300 employees will remain after the restructuring is completed.
The announcement “is consistent with other decisions we have made to simplify our business and relocate manufacturing to lower-cost areas that are closer to our customers,” said Chief Executive Gordon Hunter.
The phased transition is expected to be completed by mid-2009.