PRINTRONIX INC MOVES TO MEXICO

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PRINTRONIX INC MOVES TO MEXICO

 user 2009-03-02 at 11:41:29 am Views: 156
  • #21733

    http://www.ocbj.com/industry_article_pay.asp?aID=4721554.1153483.1751594.41429403.3033701.939&aID2=134729
    Printer Maker Moves Production to Mexico
    Irvine’s
    Printronix Inc., one of Orange County’s oldest technology companies, is
    set to send the last of its local manufacturing to Mexico.Printronix,
    which makes industrial printers and printing supplies for manufacturers
    and retailers, said it’s set to cut 54 jobs and shutter its
    manufacturing here, according to spokeswoman Karen Jensen. It plans to
    keep its headquarters here.The company is looking to sell the
    46,000-square-foot factory and part or all of its office complex, which
    together total 187,000 square feet. If the office at 14600 Myford Road
    sells, the company will look to move to another spot in the
    county.“There are several options, such as selling a portion of this
    building or the whole thing,” Jensen said.

    Printronix has been
    slowly shedding its local manufacturing work.In Irvine, it was doing
    some assembly work and making printer ink, toner and thermal ribbon
    paper, which allows for heat-sensitive printing instead of ink.It’s all
    set to move to a factory in Nogales, a Mexican border city next to
    Arizona.Printronix is set to expand its Nogales plant from 17,000
    square feet to 75,000 square feet.Its corporate headquarters, sales,
    marketing, finance, engineering, customer service and other
    administrative functions are set to stay local.

    The company was
    scouting new office space but put its search on hold to see if it could
    sell the building first, Jensen said.“Because of the move to Nogales
    and it consuming some resources, we have stopped looking for the moment
    because we don’t have a buyer,” she said.Printronix is asking for $40
    million, or roughly $215 per square foot, according to real estate
    CoStar Group Inc. That’s at the high end of what similar buildings are
    going for.A little more than a year ago Printronix was taken private in
    a $108 million buyout by San Francisco private equity firm Vector
    Capital.