Analogic (NSDQ:ALOG) said it plans to lay off 140 workers worldwide as it integrates Canadian medical device company Ultrasonix Medical and shutters plants in Colorado and Vancouver.
Peabody, Mass.-based Analogic said it will close down the plant in Englewood, Colo., and move its operations to an existing facility in State College, Pa. Some operations at another plant in Vancouver, acquired in the $83 million buyout of Ultrasonix, will be consolidated into other operations, according to a press release.
The plan is aimed at saving more than $6 million annually, after the $5 million it will cost to implement. Analogic said it expects to complete the moves by the end of fiscal 2014 in July of next year.
"These restructuring activities are consistent with our ongoing strategy of leveraging our existing operational footprint and aligning our operations with our strategic objectives. Our Vancouver, Canada site will remain as the advanced development center for point-of-care ultrasound. The cost savings from these activities will enable ongoing investment in our advanced technologies while continuing to support our stated multi-year operating margin goals," president & CEO Jim Green said in prepared remarks.
