SCHAUMBURG, Ill.--Sparton Corporation (NYSE: SPA) today announced the consolidation of its Irvine, CA design center into its Irvine, CA manufacturing operations no later than February 1, 2016. The consolidation is in-line with actions being taken to optimize the Company’s manufacturing and design facility footprint and realize synergies from the Company’s acquisitions.
“We are continually reviewing our footprint and will take consolidation actions where appropriate,” said Cary Wood, president & CEO. “We have been faced with excess capacity for some time now and we need to optimize our resources on a much more competitive level. This change will not affect our current array of design engineering and manufacturing capabilities and offerings in the Southern California, but the combination of these two entities will result in reduced real estate overhead once consolidation efforts are complete.”
The Irvine Design Center was acquired through the Aubrey Group acquisition in March 2014 and has been operating within the Manufacturing & Design Services (MDS) segment. Design services and products currently manufactured in that location will be transferred to the Company’s Irvine manufacturing operations location, which was acquired through the eMT acquisition in July 2014. Customer orders will not be affected by the consolidation.
The Irvine location will provide single-point access for inventors, entrepreneurs, and industry leading OEMs to utilize Sparton’s design and engineering teams and world-class manufacturing operations, all in one location, to develop innovative solutions in a timely manner as well as delivering its clients’ new products into the marketplace faster and more cost effectively.
About Sparton Corporation
Sparton Corporation (NYSE:SPA), now in its 116th year, is a provider of complex and sophisticated electromechanical devices with capabilities that include concept development, industrial design, design and manufacturing engineering, production, distribution, field service, and refurbishment. The primary markets served are Medical & Biotechnology, Military & Aerospace, and Industrial & Commercial. Headquartered in Schaumburg, IL, Sparton currently has fifteen manufacturing locations and engineering design centers worldwide. Sparton's Web site may be accessed at www.sparton.com.
Safe Harbor and Fair Disclosure Statement
Safe Harbor statement under the Private Securities Litigation Reform Act of 1995: To the extent any statements made in this release contain information that is not historical, these statements are essentially forward-looking and are subject to risks and uncertainties, including the difficulty of predicting future results, the regulatory environment, fluctuations in operating results and other risks detailed from time to time in Sparton's filings with the Securities and Exchange Commission (SEC). The matters discussed in this press release may also involve risks and uncertainties concerning Sparton's services described in Sparton's filings with the SEC. In particular, see the risk factors described in Sparton's most recent Form 10K and Form 10Q. Sparton assumes no obligation to update the forward-looking information contained in this press release.