ADC to exit component business
The moves are part of ADC s cost reduction and restructuring efforts aimed at lowering the company s overall cost structure and reducing its quarterly break-even sales point.
In the past few years, ADC acquired a large number of component manufacturers, including Spectracom, a 980 nm pump laser manufacturer located in Minnesota, and Altitun, a Swedish tunable laser maker. Both these businesses and their associated facilities are now on the market again.
In the past nine months, ADC has closed 41 facilities worldwide and reduced its workforce from 12,500 to around 9,200 employees. More facility closures and consolidations are expected, along with further workforce reductions.
"These moves continue to move ADC along on its path to profitability and improves our focus on those areas of most promising growth and profitability," said Rick Roscitt, ADC chairman and CEO.