Sparton Corporation announces the closure of its New Mexico Facility
Jan 09, 2007
Sparton Corporation (NYSE:SPA) has announced it will discontinue and close manufacturing operations at its Deming, New Mexico facility not later than March 31, 2007.
Sparton Corporation has offered cable wire harness assembly services to select transportation customers for many years. Based upon the current business climate, the pressure of offshore pricing and demand within the market Sparton can no longer offer competitive cable wire harness solutions to its customers. The Company does not expect the elimination of these operations will have a material adverse impact on future financial performance.
All current commercial customer orders will be completed and shipped as scheduled. Existing intra-company production will be transferred to other Sparton facilities as soon as possible. The Company is reviewing its alternatives with respect to the disposal of manufacturing equipment and real estate.
Sparton will coordinate closely with local and state authorities along with employment agencies to help associates make successful employment transitions.