Bodycote will close or consolidate 31 sites to save approximately $26 million a year. The company will also cut about 1,500 jobs by the end of 2009. The cuts would affect full-time, temporary and short-term staff across operations in the U.K., U.S. and Europe. According to Bodycote, demand from aerospace, power generation and oil and gas markets has stayed steady but automotive markets have softened. The company sold its testing business in 2008 to focus on its thermal processing and heat-treatment business, which represented 77% of total sales last year.
Bodycote announced it is expanding its offerings to Japanese manufacturers. The sales office in Nagoya, Japan, which was established last March, is now accepting orders for hot isostatic pressing (HIP), Kolsterising, K-Tech and Boronizing. Bodycote’s facilities in North American and Europe will process all Japan-based orders. According to Bodycote, the four niche technologies now being offered are in high demand in Japan.
Bodycote to Close, Combine Sites
February 25, 2009