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Quotes & Info
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| TTMI > SEC Filings for TTMI > Form 8-K on 4-Sep-2009 | All Recent SEC Filings |
4-Sep-2009
Costs Associated with Exit or Disposal Activities, Financial Statements and
On September 1, 2009, TTM Technologies, Inc. ("TTM") announced its plan to close its Hayward, California and Los Angeles, California facilities due to continued weak demand in North America. TTM announced it would lay off approximately 335 employees at these sites. TTM intends to transfer printed circuit board ("PCB") production from its Los Angeles facility to other company sites in California, Utah and Wisconsin. Backplane assembly services provided by the Hayward plant will be transferred to the company's other backplane assembly plants in Shanghai, China and Stafford Springs, Connecticut.
TTM will offer separation and other benefits to the affected employees. The company expects to record between $11 million and $14 million in separation, asset impairment and disposal costs related to this restructuring, primarily in the third quarter of 2009. In addition to transferring assets to other sites, the company also will sell some of the property, plant and equipment.
A copy of TTM's press release announcing the closure is attached hereto as Exhibit 99.1 and is incorporated by reference.
(d) Exhibits
99.1 Press release, dated September 1, 2009, entitled "TTM Technologies, Inc. Announces Closure of Hayward and Los Angeles Facilities"
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