Sipex Closes Billerica Test Lab, Lays Off 45
Sipex Corp. (Billerica, MA) announced it will close its test operation in Billerica and transfer all its backend activities to its current subcontractors in Malaysia by the end of the quarter. As a result, the company will lay off 45 employees. Sipex reported that it expects to transfer substantially all of its equipment currently used in the operation to its subcontractors.
Meanwhile, Sipex has announced plans to exit the assembled products business. As part of that, the company sold its thin film and hybrid assembly business last week to SatCon Electronics Inc. Other restructuring actions include a 15-percent workforce cut in June and the closure of its San Jose-based, 4in wafer fab in September. The company also announced that its headquarters will be relocated to Milpitas, CA.
"With the previously announced exiting of the hybrid business, the Billerica test operation no longer made sense," said Sipex President and CEO Walid Maghribi. "We continue to do what we believe is right for the long-term growth of the company and expect that this action will streamline our operations, reduce our lead time to our customers and further reduce our cost structure."