Eye-care company Cooper Cos Inc’s said its CooperVision unit will close its soft contact lens plant in Norfolk, Virginia.
The closing of the plant, resulting from manufacturing efficiencies gained in the past year, will take place over the next 15 months.
The facility makes about 7 percent of annual lens production, and CooperVision will relocate manufacturing to Puerto Rico, the U.K. and Australia.
Cooper had cut 685 manufacturing jobs in the past year.
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Forbes.com
REUTERS.com
Eye-care company Cooper Cos Inc’s said its CooperVision unit will close its soft contact lens plant in Norfolk, Virginia.
The closing of the plant, resulting from manufacturing efficiencies gained in the past year, will take place over the next 15 months.
The facility makes about 7 percent of annual lens production, and CooperVision will relocate manufacturing to Puerto Rico, the U.K. and Australia.
The company will take a pretax charge of about $25 million through 2010 related to the restructuring and expects about $10 million of it to be cash-related with minimal cash impact in fiscal 2009.
Cooper had cut 685 manufacturing jobs in the past year.
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Tags: CooperVision, Layoffs
