AMSC has announced plans to reduce operating costs and align the organisation for anticipated Grid segment growth. AMSC intends to focus on optimising the manufacturing capacity requirements of the company, as well as aligning their headcount.
AMSC is currently exploring options for moving its manufacturing and administrative operations at Devens, MA, USA to a nearby, smaller-scale building. The company expects to reduce its annualised expenses by approximately US$ 4 to US$ 5 million once the savings are fully realised, which is expected to occur by the end of fiscal year 2017. AMSC anticipates that it will incur cash-related restructuring charges of approximately US$ 1.5 to US$ 2 million for severance-related costs in the fiscal quarter ending June 30, 2017.
