Media Release
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Media Release
August 19, 2007
Riordan Manufacturing to Relocate Certain American Manufacturing Facilities
Riordan Manufacturing today announced that following a detailed assessment of its American manufacturing facilities, the Company will relocate its Atlanta Georgia plant to Monterrey, NL, Mexico. These changes will enable Riordan Manufacturing to extract cost savings, remain competitive in the marketplace resulting in an improved and more efficient global manufacturing footprint.
The assessment included an analysis of production requirements, equipment and production costs, in addition to real estate, logistic, and labor costs, all of which are designed to meet or exceed Riordan Manufacturings current service and delivery capabilities.
American employees whose positions are impacted will be eligible for severance benefits and outplacement assistance consistent with the Companys policy. Retirement packages for certain employees impacted by these changes will be available based on age and service. Actual employee reductions will begin in January, 2008 and will be spread over the following several months. All transition activity is scheduled to be complete by the end of March, 2008.
These changes will have no impact on the San Jose, California, Pontiac Michigan and Hangzhou, China Facilities.
-ENDS-
For media enquires contact: Carolyn Podshadley 1 (800) 555-2121
Background
“Riordan Manufacturing, Inc. is an industry leader in the field of plastic injection molding. With state-of-the art design capabilities, innovative plactic designs are created that have earned international acclaim. Attention to detail, extreme precision, and enthusiastic