Inrad Optics Relocates Metal Optics Division To Its Northvale, New Jersey, Campus
11/18/2013
CEO and President Amy Eskilson said, "The consolidation of our metal optics facility into the New Jersey headquarters presents an opportunity to integrate all of our unique resources into one optimized facility, and will offer our customers a strengthened set of build-to-print capabilities and products. Additionally, the consolidation will allow the company to make significant improvements to our operating results."
Company officials said its consolidation is part of a larger strategic effort to improve the firm's value proposition to its customers as well as improve its financial results. The physical integration of all development and production in one location is intended to enhance operating efficiencies and reduce overhead costs.
The move will also centralize the company's optical problem solving skills, allowing for beneficial cross-pollination of expertise, including leveraging the Florida metal optics facility's single point diamond turning capability over a broader range of optical materials.
The decision also reflects the continued uncertainty in US defense funding, officials said. Much of the company's metal optics business serves US government installations and defense prime contractors. The company has seen a falloff in bookings from these two customer groups in the first three quarters of 2013.
The Sarasota plant will go through a gradual transfer of operations to ensure no interruption to customers during the transition. While no official facility closure date has been finalized, Inrad Optics anticipates operations in Sarasota will be fully transferred by approximately March 31, 2014.
Project Announcements
Certus Medical Expands Ingham County, Michigan, Operations
04/16/2024
Kalmbach Feeds Expands Wyandot County, Ohio, Operations
04/16/2024
Germany-Based Tesa Tape Relocates-Establishes Grand Rapids, Michigan, Headquarters
04/15/2024
FUJIFILM Diosynth Biotechnologies Expands Holly Springs, North Carolina, Operations
04/15/2024
Two Rivers Lumber Plans Coosa County, Alabama, Sawmill Operations
04/15/2024
Protomet Corporation Plans Rockwood, Tennessee, Operations
04/15/2024
Most Read
-
2023's Leading Metro Locations: Hotspots of Economic Growth
Q4 2023
-
2023 Top States for Doing Business Meet the Needs of Site Selectors
Q3 2023
-
38th Annual Corporate Survey: Are Unrealized Predictions of an Economic Slump Leading Small to Mid-Size Companies to Put Off Expansion Plans?
Q1 2024
-
Manufacturing Momentum Is Building
Q1 2024
-
20th Annual Consultants Survey: Clients Prioritize Access to Skilled Labor, Responsive State & Local Government
Q1 2024
-
Making Hybrid More Human in 2024
Q1 2024
-
Public-Private Partnerships Incentivize Industrial Development
Q1 2024