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EVTC Restructures, Reduces Workforce

August 30, 2001
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FORT WORTH, TX — EVTC, Inc., a national provider of refrigerant solutions, has announced a business restructuring initiative to align the company with current market conditions and prepare it for future profitable growth.

The company will close four remote, full-service warehouse locations and, in conjunction with those closings, is reducing its workforce by 18%.

According to the company, these actions are being taken to take advantage of the excess capacity it has at its Fort Worth, TX facility, and use a more efficient refrigerant distribution and reclamation business model.

The company said it will utilize a fleet of refrigerant recovery trucks and a public warehouse facility for all of its Full Circle subsidiary operations. The company expects to realize annualized pre-tax savings of $2 million from these actions.

Publication date: 09/03/2001

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