Performance materials company
said Monday that it plans to close its Niagara Falls, N. Y., facility by the end of 2007.
About 150 employees are located at the facility, which supplies a range of dielectric and industrial ceramic products for electronic materials and other marketplaces. The activities currently performed at Niagara Falls will be gradually transferred to other Ferro facilities, the Cleveland-based company said.
The Niagara Falls facility has been impacted by changes in its markets, the company said. "Demand for the types of products produced at the Niagara Falls facility has diminished greatly over the last several years. The remaining volume of business is insufficient to support the current manufacturing capacity and this is not expected to change in the future."
The company's shares were trading up 23 cents, or 1.12%, at $20.68 Monday
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