Sparton Corporation (NYSE: SPA) says it will relocate its Jackson, Michigan headquarters to an executive office in Schaumburg, Illinois effective October 1. The relocation is part of an effort to streamline overhead costs and aligning corporate operations closer to strategic market design centers.
“While this decision was extremely difficult, it is critical for us to take the steps necessary to ensure the strategic growth of the company,” said Cary Wood, president and CEO of Sparton. “We've been faced with high infrastructure costs for some time now and we need to optimize our resources to a much more competitive level.”
The Jackson facility has served as both the company's headquarters and a manufacturing plant for its electronics manufacturing services business. In March, Sparton announced it would halt production in Jackson and move the work to company facilities in Brooksville, Fla., and Ho Chi Minh City, Vietnam (see http://www.mfrtech.com/articles/1899.html). The Jackson manufacturing facility closure will be completed on or around June 30, 2009.
The headquarters closing affects 15 salaried employees who will receive relocation or severance packages.
Sparton Corporation (NYSE:SPA) now in its 109th year, is a broad-based provider of electronics to technology-driven companies in diverse markets. The company provides electronic and electromechanical products through prime contracts and through contract design and manufacturing services. Sparton currently has five manufacturing locations worldwide.
For more information about the company visit http://www.sparton.com/
For a complete version of the BUSINESS WIRE press release:
http://www.businesswire.com/news/home/20090618005525/en
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