Date: Jul 24, 2014 Author: Don Seiffert Source: bizjournal
Billerica-based scientific instruments maker Bruker Corp. disclosed in a federal filing yesterday that it’s selling off part of its business based in California and plans to lay off 200 to 250 people as a result.
The company said in the filing that it’s selling the Chemical and Applied Markets, or CAM, division after deciding it isn’t likely to be profitable in the next two years. The Fremont, Calif.-based division makes chromatography and spectrometry instruments that are used to separate complex chemical compounds and analyze them.
In the filing, Bruker said that last year the division contributed $100 million in revenue, about 18 percent of the total of the year. The company said the selling of the division “has the potential to impact the company’s operating performance in 2014 and 2015.”
As of the end of 2013, Bruker (Nasdaq: BRKR) had 6,200 full-time employees worldwide, with 1,200 located in the U.S.
Last November, the company said it was laying off 150 employees in its materials unit, and in February 2013, Bruker CFO Charles Wagner disclosed that more than 150 employees would be reduced or transferred to a contract manufacturer or other partner in the following 15 months.
