15 November 2016
15 November 2016
Avcorp Industries issued 60 day WARN notifications on 24 October 2016, as part of a restructuring initiative at its Gardena, California, US, facility that will result in a workforce reduction of 75 permanent employees by 31 December 2016.
According to Avcorp, this reduction is in addition to exiting 180 temporary workers during the last 90 days, which were added this year to support customers’ requirements arising from legacy product issues.
The restructuring is expected to result in significant annual cost savings for the Company, net of anticipated severance costs of approximately $260,000.
“The team in Gardena has done a great job of meeting our customers’ needs under challenging conditions,” said Peter George, CEO of the Avcorp Group. “Our customers and our people understand the issues we face, and we are continuing to identify and act on opportunities in a focused and measured way. While these decisions were not taken lightly, they are intended to protect our people and capabilities, stabilise our processes and optimise our work flows so that we deliver world-class performance to our customers.”
North Thin Ply Technology (NTPT) and Richard Mille have signed a long-term collaboration and exclusive supply agreement. The new multi-year contract will see NTPT develop and provide its lightweight thin ply materials exclusively to Richard Mille for horology, jewellery and luxury stationery items.
Global Composites, a new international conference jointly hosted by NetComposites and the American Composites Manufacturers Association (ACMA), will take place at Caesars Palace in Las Vegas, US, on 27-28 June 2018.
The UK's Engineering Industries Association (EIA) and the Manufacturing Technologies Association (MTA) have received confirmation of government funding for UK engineering companies to exhibit at overseas trade shows.