http://albany.bizjournals.com/albany/stories/2008/11/17/daily30.html?surround=lfn&brthrs=1

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Tuesday, November 18, 2008 - 5:19 PM EST
Atlas Copco to lay off 12% of work force
The Business Review (Albany) - by Adam Sichko

A Voorheesville manufacturer has said it will lay off 12 percent of its work force after outsourcing certain operations to sister companies overseas.

Atlas Copco Comptec LLC, which primarily makes industrial centrifuges, said the staff cuts will be completed by the end of 2009. Once finished, the company will have 320 employees in Voorheesville.

The company is a subsidiary of the Atlas Copco Group (OTCBB: ATLKY), a global company headquartered in Sweden.

Peter Wagner, general manager of the Voorheesville company, said in a brief statement on Monday that the cuts “will strengthen our ability to support the needs of our customers throughout the world.”

He did not elaborate on what functions were being moved to sister companies in Belgium and China. Wagner did not return a call for comment on Tuesday.

In December 2007, Atlas Copco Comptec officials said they planned to add 50 jobs and undergo an $8 million expansion of its testing facility.

The company received $700,000 from the Empire State Development Corp., the state’s economic development office, to help pay for project costs.

In return, Atlas Copco Comptec pledged not to cut any of its existing jobs, and it must add the 50 jobs by the end of 2010.

A call to the Empire State Development Corp. was not immediately returned.

Bend over!!!!!!......so......would they be considered immigrants..????

outsourcing

global company headquartered in Sweden.


The company received $700,000 from the Empire State Development Corp., the state’s economic development office, to help pay for project costs.

In return, Atlas Copco Comptec pledged not to cut any of its existing jobs, and it must add the 50 jobs by the end of 2010.