Nov. 6, 2002–Chaska, MN–Entegris Inc. will eliminate approximately 7% of its work force, or 121 employees worldwide, encompassing all terminations since the beginning of its fiscal year, Sept. 1.
In addition, the company will close its manufacturing facility in Upland, CA, and shift production to Chaska, MN.
The employees affected by the work force reduction will receive severance packages as well as other assistance. Entegris expects to report a restructuring charge estimated at up to $1.5 million in 1Q03, ending Nov. 30, related to the realignment of the facility and work force reduction.
Entegris has leased the 22,000 square foot, Upland facility, which manufactures machined fluid-handling products, since purchasing an Osmonics’ product line in October 1999. The company will begin to transition the plant’s operations to one of its Chaska facilities in December. The transition is expected to be complete by February 2003.
The company reiterated its guidance for 1Q03, ending Nov. 30, of sales in the low $50 million range and that it will continue to monitor the carrying value of its investment in Metron Technology N.V., a distributor of Entegris’ fluid-handling products.