Advanced Photonix, Inc. Announces Closure of Dodgeville Facility.ANN ARBOR Ann Arbor, city (1990 pop. 109,592), seat of Washtenaw co., S Mich., on the Huron River; inc. 1851. It is a research and educational center, with a large number of government and industrial research and development firms, many in high-technology fields such as , Mich. -- Advanced Photonix, Inc. (R) (AMEX AMEX See: American Stock Exchange : API) today announced that a decision has been made to close the Dodgeville, WI assembly facility and transfer all of the operations to the Company's Camarillo, CA facility. The targeted date for the closure is on or before December 31, 2007. API acquired the Dodgeville operation as part of the acquisition of Silicon Sensors, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control in August, 2002. In making this decision, the Company assessed capacity requirements considering the growth within the Optosolutions Product Platform; the recent upgrading and current ongoing consolidation of existing wafer fabrication Wafer Fabrication is a procedure composed of many repeated sequential processes to produce complete electrical or photonic circuits. Examples include production of radio frequency (RF) amplifiers, LEDs, optical computer components, and CPUs for computers. production to Ann Arbor, Michigan “Ann Arbor” redirects here. For other uses, see Ann Arbor (disambiguation). Ann Arbor is a city in the U.S. state of Michigan and the county seat of Washtenaw County. ; and the general operating requirements at each of the Company's three manufacturing facilities. The Company concluded that it was necessary to adjust production capacity to more appropriately match product demand and customer requirements, while improving the efficiency of the Company's overall manufacturing operations in the Optosolutions Product Platform. The Company will take a one time charge of approximately $520,000 in the second quarter for the closure, and will be terminating the 31 Dodgeville employees by the end of the calendar year. Based on anticipated product demand, the Company will most likely require a modest increase in the direct labor force at Camarillo over time, but no additional staffing decisions have been as of this date. Richard (Rick) Kurtz, Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of API, stated, "We would like to thank our Dodgeville employees for their dedication and service over the past 6 years. They have made many contributions in helping us build API to where it is today. The consolidation, while not pleasant, is in the best interest of our shareholders. We will work with our Dodgeville employees to insure a smooth transition." About Advanced Photonix, Inc. Advanced Photonix, Inc.(R) (AMEX: API) is a leading supplier of optoelectronic semiconductor components and subsystems and terahertz ter·a·hertz n. Abbr. THz One trillion (1012) hertz. Noun 1. terahertz - one trillion periods per second THz instrumentation to a global OEM (Original Equipment Manufacturer) The rebranding of equipment and selling it. The term initially referred to the company that made the products (the "original" manufacturer), but eventually became widely used to refer to the organization that buys the products and customer base. Products include the patented InGaAs high-speed optical receivers in APD APD atrial premature depolarization (see atrial premature complex, under complex ); pamidronate. and PIN configurations and silicon PIN, large area APD and FILTRODE(R) detector configurations. More information on Advanced Photonix can be found at http://www.advancedphotonix.com. The information contained herein includes forward looking statements that are based on assumptions that management believes to be reasonable but are subject to inherent uncertainties and risks including, but not limited to, unforeseen technological obstacles which may prevent or slow the development and/or manufacture of new products; potential problems with the integration of the acquired company and its technology and possible inability to achieve expected synergies; obstacles to successfully combining product offerings and lack of customer acceptance of such offerings; limited (or slower than anticipated) customer acceptance of new products which have been and are being developed by the Company; and a decline in the general demand for optoelectronic products. |
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