i3 Electronics Sells Endicott Printed Circuit Board Unit
Cash-strapped i3 Electronics has announced the sale of its printed circuit board operations in Endicott.
The unit based on the Huron Campus was part of the operations shed by IBM in 2002.
TTM Technologies is acquiring the i3 Electronics division for an undisclosed price. The equipment in Endicott will be moved to the TTM facility in Chippewa Falls, Wisconsin.
i3 Electronics was the company that succeeded Endicott Interconnect Technologies in November 2013 following bankruptcy proceedings.
EIT had been formed 11 years earlier in a state-subsidized deal when IBM got out of the microelectronics business.
In a statement released Thursday, i3 president and CEO James Matthews characterized the decision to sell the Endicott unit as "extremely difficult."
The company statement said the viability of the operation "was in jeopardy due to the significant loss of revenue."
i3 plans to maintain a smaller Endicott operation focused on the "flex and glass panel marketplace."
The i3 Assembly unit at 100 Eldredge Street in Binghamton will continue to operate.
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