remaining SMTC sites not recently refurbished,has been migrated to SMTC facilities closer tocustomer locations and to our recently retrofittedand expanded lower cost Chihuahua, Mexicofacility.” [SMTC Corp., SEC Form 10-K,3/29/02]
3/30/01: SMTC Announced It WouldClose The Denver, CO Plant And MoveProduction To Chihuahua, Mexico.
“Tooffset losses, SMTC will close an assembly plant in Denver and take a one-time chargeof $15 million to $20 million. Productionfrom Denver will move to Chihuahua,Mexico.” [TheStreet.com, 3/30/01]
SMTC Eliminated 429 Jobs In DenverFrom The Plant Closure. “
During 2001, inconnection with resizing due to the downturnin the technology market, we eliminated 429employees at the Denver facility which wasclosed in June 2001, 26 plant and operationalemployees at the Haverhill facility whichwas closed in September 2001, 915 plant andoperational employees at the Mexico facility,47 plant and operational employees at theCork, Ireland facility and 68 plant andoperational employees at the Donegal,Ireland facility.” [SMTC Corp, SEC Form10-K, 3/29/02]
2001: Bain Capital Held Approximately12.9% Of SMTC And Had ThreeMembers On The Board, More Than AnyOther Investment Firm. “
Investment fundsaffiliated with Bain Capital, Inc., investmentfunds affiliated with Celerity Partners, Inc.,Kilmer Electronics Group Limited andcertain members of management heldapproximately 12.9%, 12.1%, 7.1% and13.2%, respectively, of our outstandingshares as of March 16, 2001. In addition,three of the nine directors who serve on our
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