A contact at IEC Electronics tells GlobeSt.com that the 15.3-acre holding at 1920 Industrial Dr. in south Edinburg was acquired in the early 1990s with the takeover of Calidad Electronics. The facility was used to assemble contract electronic parts, including printed circuit boards. IEC has consolidated its business into a 300,000-sf plant in Newark. Olympian's plans for the building were not available.
IEC chairman and acting CEO, W. Barry Gilbert says the firm has cut its debt by more than $1.3 million since January, helped in part with a sale despite the "difficult real estate environment." Thus, he added, "IEC's return to profitability and its intense asset management have enabled the company to continue to deliver on its commitment to its shareholders.
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