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.”
Cobra International will showcase a range of composite products at CAMX 2018, including carbon fibre components for the automotive, transportation, marine, water sports and luxury sectors.
The Metyx Hungary factory, located in Kaposvár, has recently expanded its warehousing facilities, adding an additional 3,024 m2 of enclosed storage space for composite technical fabrics, packaging and FRP tooling.
A skateboard, architectural panels and a rigid roof for boats, all built using Chomarat composite reinforcements, will be on display at CAMX 2018.