Dallas, Oregon, Facility Manufacturing Staff Reduced
Friday September 5 7:30 AM EDT
Company Press Release
Source: Praegitzer Industries, Inc.
Praegitzer Industries Streamlines Manufacturing Processes
Dallas, Oregon, Facility Manufacturing Staff Reduced
DALLAS, Ore., Sept. 5 /PRNewswire/ -- Praegitzer Industries, Inc. (Nasdaq:PGTZ) today announced the reduction of its staff by 103 people, or roughly six percent of all
employees, half of which were part of a temporary workforce. The reductions are exclusive to the company's Dallas, Oregon, manufacturing plant and are the result of
improvements in scheduling, manufacturing process and automation.
``Praegitzer has experienced record-setting revenues and production levels over the past several quarters. We expect this quarter's production from our Dallas facility to
exceed last year's same quarter production by 25% to 30% and to be accomplished with 57 fewer employees,'' stated Matt Bergeron, chief operating officer, Praegitzer
Industries, Inc. ``Significant capital investments, coupled with better process control, are part of our continuing plan to reduce the labor content of our products. This means
a more highly trained and technically competent workforce.''
``Since I founded Praegitzer Industries in 1981, I have held that employees are our greatest asset. I value their commitment to this company and do not take a decision to
reduce staff lightly,'' said Robert Praegitzer, president and chief executive officer. ``This streamlining serves to enhance our ability to offer customers high value, while
securing our long-term growth and viability.''
Praegitzer Industries, Inc., is a leading designer and fabricator of advanced printed circuit boards. Customers include manufacturers in the business systems, computing,
instrumentation, medical, and telecommunications industries. Praegitzer prides itself on continually improving the quality of its products and services. It is a publicly traded
company (Nasdaq:PGTZ - news) and employs more than 1,700 people. For more information on Praegitzer Industries, Inc., access pii.com via a commercial
Web browser.
This press release includes forward-looking statements, including with respect to the future level of business for Praegitzer Industries, Inc. These statements are
necessarily subject to risk and uncertainty. Factors that could cause results to differ materially from those set forth above include trends and development in the electronics
industry generally, which is subject to rapid technological change and product obsolescence, as well as economic cycles and recessionary periods, concentration of sales
in a relatively small number of large customers, and intense competition in the printed circuit board industry, which the company believes will increase.
SOURCE: Praegitzer Industries, Inc. |
