PORTLAND, OR — FLIR Systems, Inc. (NASDAQ: FLIR) today announced that it is realigning multiple production and engineering organizations and streamlining its global operations in order to better position FLIR® to develop, produce and market products more quickly and cost-effectively. The realignment includes closing up to six not-to-scale sites in the United States and Europe and a proposed transfer of those operations to larger FLIR facilities. FLIR also intends to consolidate its optics and laser manufacturing businesses to better realize the benefits of vertical integration in these areas.
Management expects savings from these actions to exceed $20 million per year when fully implemented. FLIR expects to record a pre-tax restructuring charge of approximately $27 million to $30 million in the fourth quarter of 2013 related to these and additional cost reduction measures.
“The realignment of operations announced today is the culmination of a strategic operations review we began this past summer to further enhance operating efficiency and profitability and to improve our internal execution with better communication, collaboration, and cooperation across the company,” said Andy Teich, President and CEO of FLIR.Tagged with tED