PRINTRONIX INC MOVES TO MEXICO

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PRINTRONIX INC MOVES TO MEXICO

 user 2009-03-02 at 11:40:50 am Views: 77
  • #21411

    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.