Cray Electronics is to close its production sites at Gosport, Hampshire, and Swindon, Wiltshire, and make 100 jobs redundant in a restructuring of its entire operations. All its UK operations will in the future be based at its Watford site in Hertfordshire.
The data communications group announced pre-tax losses of £19.4m against £800,000 profits for the year to April 30. The losses included provision for the disposals, restructuring at the core Cray Communications datacoms business, and charges relating to surplus property. Turnover was flat at £263m.
Human resources group Lorien is to buy PE International from Cray for £14.3m.
- The Financial Times 4/7/96 page 30
- The Daily Telegraph 4/7/96 page 18
- The Times 4/7/96 page 27, page 28
- The Independent 4/7/96 page 24
