Gould plans to close U.S. operations

Copper foil manufacturer Gould Electronics, a subsidiary of Nikko Materials Co., Ltd. has announced that it plans to close its Chandler, Arizona, manufacturing facility and U.S. headquarters by April of 2006.

"The closing is necessitated by continued depressed U.S. market conditions, competitive world pricing and the historically high cost of copper," said David P. Burgess, Gould president.

Approximately 220 salaried jobs will be affected as a result of the closure. The company is offering employees severance packages and outplacement services. "This is an extremely difficult situation, particularly because of the personal issues involved," said Burgess, "and we regret the impact it will have on our employees, their families and the community."

In addition, Burgess said, "Our maximum effort will be directed to building inventory to assist our customers in a smooth transition to other suppliers."

Nikko Materials is considering supporting the U.S. market via its Gould Electronics GmbH business based in Eichstetten, Germany.