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.”
Continental Structural Plastics (CSP) will install a sheet moulding compound (SMC) production line at its facility in Pouance, France, to support the need for its composite formulations in Europe.
Solvay has celebrated the groundbreaking of its Greenville, Texas, US, manufacturing footprint expansion that increases the site’s resin mixing capacity to meet the growing needs of commercial and military aerospace composite customers.
Covestro is pushing ahead with developing and marketing its continuous fibre reinforced thermoplastic (CFRTP) composites by introducing Maezio as brand name.