LONDON Staff at the e2v facility in Lincoln, U.K., have been told the site will shut within 12 months according to a report in The Licolnshire Echo.
Up to 160 jobs could be lost and the decision is being blamed on a contracting order book and an unsuccessful attempt to sell the Lincoln business.
According to the local paper company HR spokesman Ed Staite said: “Over the past 18 months a number of steps have been taken to try to safeguard jobs at the Lincoln site. One of these was an attempt to find a buyer for the Lincoln site. Unfortunately this has not been possible. A consultation period on this plan will begin in the second week of November.”
e2v’s Lincoln site manufactures a range of sensors and components for the automotive industry. It was acquired 2003 with purchase of the Microwave Sensors Business (MSB) from Dynex Semiconductor.
In June e2v warned of challenging year ahead as it posted a 13 percent fall in its full-year adjusted pretax profit. At that time it confirmed it was still seeking a buyer for the Lincoln-based microwave microelectronics business unit, which forms part of the sensors division. Adjusted profit before tax fell to £20.4 million for the year ended 31 March 2009. Sales were up 14 percent, to £233.2 million, aided by acquisitions during the year.
In April 2009 the company announced that it planned to cut jobs in the U.K. and France and sell off the microwave microelectronics unit in Lincoln.