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Nanometrics to close machine shop |
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Aug 16, 2007 at 02:56 PM |
 Nanometrics will shortly close its Milpitas machine shop and plating facility as part of its strategy to reverse its vertical integration and reduce fixed costs that are intended to lower its breakeven point, the company said.
"A key element of our restructuring plan is to unwind our vertical integration strategy, converting fixed costs to variable costs," commented Bruce C. Rhine, Chief Executive Officer of Nanometrics. "Integrated machining and plating do not add value to our business, and disposing of this facility will improve Nanometrics' cost structure and lower the breakeven point for the company."
The company is pursuing a lease of these facilities and sale of related assets while recording a $4 million charge in 3Q07.
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