Jason in TN
Bronze Member
does not go down hill. The customer service already has. Will be built in Malaysia now should not be long until you can buy a cheap China knock off at walmart. Looks like the bottom line is all that is important to them now. Whites and Fisher are looking better to me time will tell I guess.
CODAN will close subsidiary Minelab's Irish operations, saving it more than $500,000 per year.
The closure will cost up to $1.5 million in redundancy and other costs which will be incurred over the next six months.
The company said these costs will be offset by proceeds from the sale of the manufacturing facility.
The majority of the manufacturing done in Ireland would be moved to Codan's manufacturing service provider, Plexus, based in Penang, Malaysia.
Minelab's sales operations covering Europe, the Middle East and Africa would continue to be based in Ireland, albeit in different premises.
"The company will commence a process to dispose of the current manufacturing facilities,'' Codan said in an announcement.
"Given the current economic environment, we expect this sale process to be reasonably protracted, however we expect to conclude it during the year ended June 30, 2010.
"In addition to this project in Ireland, Codan continues with other beneficial Minelab integration initiatives, with a focus on manufacturing, information systems and inventory rationalisation.''
Codan, under managing director Mike Heard, bought metal detector manufacturer Minelab for $70.5 million last year.
Codan shares closed steady at 64c yesterday.
Jason
CODAN will close subsidiary Minelab's Irish operations, saving it more than $500,000 per year.
The closure will cost up to $1.5 million in redundancy and other costs which will be incurred over the next six months.
The company said these costs will be offset by proceeds from the sale of the manufacturing facility.
The majority of the manufacturing done in Ireland would be moved to Codan's manufacturing service provider, Plexus, based in Penang, Malaysia.
Minelab's sales operations covering Europe, the Middle East and Africa would continue to be based in Ireland, albeit in different premises.
"The company will commence a process to dispose of the current manufacturing facilities,'' Codan said in an announcement.
"Given the current economic environment, we expect this sale process to be reasonably protracted, however we expect to conclude it during the year ended June 30, 2010.
"In addition to this project in Ireland, Codan continues with other beneficial Minelab integration initiatives, with a focus on manufacturing, information systems and inventory rationalisation.''
Codan, under managing director Mike Heard, bought metal detector manufacturer Minelab for $70.5 million last year.
Codan shares closed steady at 64c yesterday.
Jason