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Sep 26, 2007, 12:29 pm (3 comments)
Lottery operator Scientific Games Corp said it plans to close its plant in San Antonio, Texas, citing adequate production capacity in its other plants worldwide, a move that will affect about 350 jobs.
Some of the plant's technicians and managers will be offered the opportunity to relocate to other Scientific Games operations, the company said in a statement.
Scientific Games also offered severance packages, arrangements for continuity of health insurance, and outplacement assistance to those employees who were not offered relocation or who did not choose to shift.
New York-based Scientific Games, whose products include instant-win lottery tickets and point-of-sale terminals, expects the closing of the plant to be completed by the end of the year.
The plant was obtained in May 2007 as part of the company's acquisition of Oberthur Gaming Technologies, a manufacturer of instant lottery tickets, for about $100 million.
The plant closure will consolidate the company's production operation to a single site in the United States, Scientific Games said.
Reuters
Sad actually, because this will bring more lotteries into the fold of SG's shoddy scratch-off design.
... citing adequate production capacity in its other plants worldwide ...
... then why not close one of its other plants and keep the American ones open?
Curious to know what the $100 MM bought them, besides less competition. Anyone?