Thompson closure plan on schedule in Rochester
ROCHESTER — The consolidation of Smith & Wesson Holding Corporation's Thompson/Center Arms operations in Rochester into its Springfield, Mass., headquarters is still in line for completion later this year.
"The move should conclude in November as planned and on budget," said Liz Sharp, a Smith & Wesson spokeswoman, in an e-mail Wednesday.
The closure of the 160,000-square-foot Rochester plant, announced in November 2010, will affect about 250 employees.
Sharp said the consolidation is intended "to benefit gross margins over the long term for both our Thompson/Center Arms and Smith & Wesson products."
Sharp said specifics pertaining to severance plans, as well as the number of employees who received such plans versus the number who may relocate to the Springfield facility were not immediately available.
According to a statement the company posted on its website after a conference call fiscal year 2011 financial results, "gross profit margin for the fourth quarter was 30.2 percent compared with 31.3 percent for the prior year quarter, including the impact of costs associated with the consolidation of the Thompson/Center Arms operations."
In December 2010, the company expected to record about $6 million in future expenses as a result of the relocation. The expenses included $3 million in personnel-related exit costs and $3 million in factory-related shutdown costs.
Thompson/Center Arms Inc. was initially a privately-held New Hampshire-based designer, manufacturer and marketeer of hunting firearms.
Smith & Wesson acquired it in 2006 for $102 million in cash.
Thompson Center Arms Rochester Nh - News
The expenses included $3 million in personnel-related exit costs and $3 million in factory-related shutdown costs. Thompson/Center Arms Inc. was initially a privately-held New Hampshire-based designer, manufacturer and marketeer of hunting firearms.
DOL announces grant to assist workers affected by layoffs at ...
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RT @: DOL announces grant to assist workers affected by layoffs at Thompson/Center Arms in Rochester, NH [07/20/2011] 
RT @: DOL announces grant to assist workers affected by layoffs at Thompson/Center Arms in Rochester, NH [07/20/2011] 
RT @: DOL announces grant to assist workers affected by layoffs at Thompson/Center Arms in Rochester, NH [07/20/2011] 
RT @: DOL announces grant to assist workers affected by layoffs at Thompson/Center Arms in Rochester, NH [07/20/2011] 
DOL announces grant to assist workers affected by layoffs at Thompson/Center Arms in Rochester, NH [07/20/2011] Thompson Center Arms Rochester Nh - Bookshelf
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