Auctioneer announces sale of surplus assets

. March 28, 2007

Innovex, Inc. has selected Stuart B. Millner & Associates to sell Surplus Assets from the restructuring that are related to the Company’s plan to accelerate end-of-life production for Flex Suspension Assembly (FSA) flexible circuits in Litchfield, Minnesota and discontinue use of that facility by the end of March 2007.

Concurrent with FSA flexible circuit production end-of-life, Innovex will also accelerate end-of-life production at its Eastlake, Ohio laminate material manufacturing facility, where it manufactures FSA flexible circuit laminate materials. Post restructuring, all of the Company’s manufacturing operations will be located in Thailand. The closure of the Litchfield and Eastlake facilities will mark the end of a three year effort to lower the Company’s cost structure and move all manufacturing operations offshore.

Sales will be held on March 27th – Eastlake, Ohio – 10:00 EST, and on April 17th – Litchfield, Minnesota – 10:00 CST

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Category: Auction News

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