Emulex Will Close Plant
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COSTA MESA — Emulex Corp. said it will take a pretax $13-million charge in its fiscal third quarter to close its manufacturing operations in Puerto Rico, as it focuses on other businesses.
Emulex, a computer network-products company, will close its operations in Dorado, Puerto Rico, and fire 130 full-time employees, or 48% of its work force, as well as 45 temporary workers. A unit of Kent Electronics Corp. will manufacture Emulex products.
For its third quarter ending Sunday, Emulex will take about $6 million in cash charges for the firings and $7 million in noncash charges related to the write-down of manufacturing assets. Emulex said it has secured a $10-million line of credit with Silicon Valley Bank during the transition.
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