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Technical Analysis
SmarTrend® DOWNTREND Alert: Hutchinson Technology Inc. (NASDAQ:HTCH) - 1/24/2009 2:24:25 AM

Friday, Hutchinson Technology Inc. (NASDAQ:HTCH) announced that it will close its Sioux Falls, South Dakota facility as part of its ongoing effort to reduce costs and restructure the company. The Sioux Falls operation employs approximately 300 full-time workers, and is responsible for assembling the suspension assembly components that are produced at the company's other facilities. Kathleen Skarven, president of Hutchinson's Disk Drive Components Division, said that the company will consolidate its Sioux Falls operation into its facilities in Eau Claire, Wisconsin and Hutchinson, Minnesota, which will help lower costs through greater efficiency and improved facility-utilization. The consolidation is expected to be completed over the next three months.


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