Azure Dynamics to close Toronto head office, to move to Detroit/Windsor or Ohio |
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Published
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Tue, 08 May 2007 08:57
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LONDON (Thomson Financial) - Azure Dynamics Corp said it is closing its head office in Toronto and that it will open a new head office in the Detroit/Windsor area or possibly Ohio, resulting in cost savings in excess of 1.6 mln usd annually.The electric power-trains maker said it will also close the UK Kenilworth office and service centre.Azure said the cost savings from the movement of head office are related to both fixed costs for facilities and people and from variable costs such as travel.TFN.newsdesk@thomson.comrda/rda/slmCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
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