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Ballard cuts to affect Lowell, Mass., office

Publication Date:24-September-2005
09:51 PM US Eastern Timezone
Source:American City Business Journals

Job cuts at Ballard Power Systems Inc. are impacting its Lowell, Mass., facility, in addition to sites in Dearborn, Mich,. and Vancouver, British Columbia.

Earlier this month, Ballard (Nasdaq: BLDP) sold its German fuel cell unit to Daimler Chrysler AG and Ford Motor Co., who are investors in Ballard. The company has made deep job cuts the past few years.

At last report, Ballard Material Products in Lowell employed 65 people, who produce carbon-based fabrics, fiber papers and laminates for use in items like fuel cells, automobile clutches, and fishing reels. The company purchased the facility for $13 million in 2001 from Textron Inc. of Providence, R.I.

Ballard said it is cutting 100 positions companywide, but did not specify how the cuts would be apportioned. The company has already eliminated half the positions through normal attrition and a hiring freeze.

The company employs 600 people in all.

Ballard will take a $2 million charge in the third quarter to pay for the moves.


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