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Reliability to restructure Power Sources segment

Posted: 08 Aug 2002 ?? ?Print Version ?Bookmark and Share

Keywords:power source? dc converter? power converter? semiconductor processing?

Reliability Inc. has announced its plan to restructure its Power Sources business segment. The company plans to consolidate its operations in Houston in the U.S. and at the same time, close down its facility in Costa Rica, which manufactures the company's line of power devices, including dc/dc converters. The facility is scheduled to close shop by the end of August and will be listed for sale to increase the company's assets.

According to Larry Edwards, president and CEO of Reliability, the company decided to close the facility in Costa Rica because demand for its Power Sources line has continued to decline further and consume a disproportionate amount of cash. Additionally, Edwards explained that the recovery of this segment, expected during the 2H of 2002 is unlikely to happen and may not occur in the 1H of 2003.

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