Littelfuse, Inc. today announced plans to transfer reed switch production from its Lake Mills, Wisconsin and Suzhou, China facilities to the company's multi-plant site in the Philippines. The Lake Mills and Suzhou facilities were acquired by Littelfuse in May 2013 as part of the Hamlin acquisition. The phased transfer of reed switch production is scheduled to be completed by the middle of 2016. This project is expected to generate approximately $5 million in annual savings once the transition is completed and is expected to result in restructuring charges and transition costs of approximately $7 million pre-tax.
“Today's announcement is consistent with other decisions we have made to rationalize our manufacturing footprint and relocate production closer to our customer base,” said Gordon Hunter, Chief Executive Officer. “The skill and dedication of our 160 production employees in Lake Mills and Suzhou made this a difficult decision. We are committed to providing career transition benefits to all those affected.”
About Littelfuse
Founded in 1927, Littelfuse is the world leader in circuit protection with growing global platforms in power control and sensing. The company serves customers in the electronics, automotive and industrial markets with technologies including fuses, semiconductors, polymers, ceramics, relays and sensors. Littelfuse has over 8,000 employees in more than 35 locations throughout the Americas, Europe and Asia. For more information, please visit the Littelfuse website: littelfuse.com.
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