In the filing, Harvard Bioscience said that it will reorganize, consolidate, and eliminate certain activities at the facility. Part of the reorganization includes relocating some activities to the firm's
According to Harvard Bio, "this will result in the elimination of a number of employee positions."
The firm expects to take second-quarter charges of $600,000 to $800,000 related to severance and benefits and charges of $100,000 to $300,000 related to lease terminations.
Genomic Solutions is part of Harvard Bio's capital equipment business, which the firm last August said it plans to divest. At that time, Harvard Bio said it expected to complete the divestiture or sale within one year.
According to the most recent filing, Harvard Bio is continuing its efforts to divest the capital equipment business. The firm said it would kill the reorganization plan if it sells the business "prior to our completion of all activities under this plan."