DDi Corp. Announces Plans to Relocate Headquarters and Anaheim Facility
January 04 2012 - 6:00AM
Business Wire
DDi Corp. (NASDAQ: DDIC), a leading provider of time-critical,
technologically advanced electronic interconnect design,
engineering and manufacturing services, announced today that it has
entered into an agreement to purchase an existing building in
Anaheim, California, for $7.5 million, into which it plans to
relocate its corporate headquarters and Anaheim manufacturing
operations. The closing of purchase, which is subject to certain
conditions, is expected to occur in January 2012. The company plans
to complete the move into the new building before its current
Anaheim leases expire at the end of the third quarter of 2012.
The approximately 96,000 square foot building is already
equipped with upgrades applicable to the company’s manufacturing
operations, including clean rooms, filtration systems, and HVAC
systems. The building consists of approximately one-third office
space and two-thirds manufacturing area.
Mikel Williams, President and Chief Executive Officer of DDi
Corp., stated, “Our current Anaheim location houses both our
leading technology center as well as our corporate offices in eight
different building structures. With the new facility, all contained
in one building, our high-technology manufacturing capabilities
will be further enhanced with improved manufacturing flow. Once the
move is complete, we expect the new facility will enhance our
ability to manufacture industry leading technology, enable improved
manufacturing yields and provide labor and other operating
efficiencies. The new building offers improved facility security -
an attractive upgrade for our military and commercial customer base
- and is within one-half mile of our current location, facilitating
the relocation effort and the retention of our employee base.”
“Further, when considering the annual facility-related expenses
of just over $800,000 that we have been paying in Anaheim as
compared to the costs of ownership, we believe that the purchase of
the property is squarely in the interest of the company and our
shareholders. While we intend to close the purchase with cash, we
are exploring the possibility of placing a mortgage on the facility
given the attractiveness of the low interest rates available to the
company," Williams concluded.
About DDi
DDi is a leading provider of time-critical, technologically
advanced electronic interconnect design, engineering and
manufacturing services. Headquartered in Anaheim, California, DDi
and its subsidiaries offer services to leading electronics OEMs and
contract manufacturers worldwide from its facilities across North
America and with manufacturing partners in Asia.
"Safe Harbor" Statement under the Private Securities
Litigation Reform Act of 1995
Except for historical information contained in this release,
statements in this release may constitute forward-looking
statements regarding the Company's assumptions, projections,
expectations, targets, intentions or beliefs about future events.
Words or phrases such as "anticipates," "believes," "estimates,"
"expects," "intends," "plans," "predicts," "projects," "targets,"
"will likely result," "will continue," "may," "could" or similar
expressions identify forward-looking statements. Forward-looking
statements involve risks and uncertainties, which could cause
actual results or outcomes to differ materially from those
expressed. The Company cautions that while it makes such statements
in good faith and it believes such statements are based on
reasonable assumptions, including without limitation, management's
examination of historical operating trends, data contained in
records, and other data available from third parties, it cannot
assure you that the Company's projections will be achieved. In
addition to other factors and matters discussed from time to time
in the Company's filings with the U.S. Securities and Exchange
Commission, or the SEC, some important factors that could cause
actual results or outcomes for DDi or its subsidiaries to differ
materially from those discussed in forward-looking statements
include changes in general economic conditions in the markets in
which it may compete and fluctuations in demand in the electronics
industry; the Company's ability to sustain historical margins;
increased competition; increased costs; loss or retirement of key
members of management; currency exchange rate fluctuations;
integration of acquired operations; international operations;
compliance with environmental regulations; potential impacts of
natural disasters on the electronics industry and the Company's
supply chain; increases in the Company's cost of borrowings or
unavailability of additional debt or equity capital on terms
considered reasonable by management; and adverse state, federal or
foreign legislation or regulation or adverse determinations by
regulators. Any forward-looking statement speaks only as of the
date on which such statement is made, and, except as required by
law, the Company undertakes no obligation to update any
forward-looking statement to reflect events or circumstances after
the date on which such statement is made or to reflect the
occurrence of unanticipated events. New factors emerge from time to
time, and it is not possible for management to predict all such
factors.
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