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