Thank you for sharing!

Your article was successfully shared with the contacts you provided.

PORTLAND-Scanner maker PSC Inc. is moving its headquarters from Webster, NY to downtown Portland to be nearer its Eugene, OR facilities. A source with the publicly traded company says the deal will be finalized in the next week and specifics will be released at that time.

The 1,000-employee company recently sold its existing headquarters in Webster, NY. The 135,000-sf office and manufacturing facility was sold to publicly traded Paychex Inc. for $5 million. PSC is leasing the space back for 90 days while it completes its relocation to Portland.

The bulk of PSC’s 700 U.S. employees reside in Eugene, OR. The move should also save the company money on rent relative to the East Coast and other West Coast cities like Seattle, which the company also considered.

“The sale of our Webster facilities is a major step in PSC’s stated restructuring plan,” said Edward J. Borey, President and CEO of PSC Inc. “The sale eliminates excess facilities created by the consolidation of our manufacturing. It also reduces our administrative costs.”

PSC supplies its systems to major grocery store chains, retailers, and delivery services such as Albertson’s, Fred Meyer, Safeway The Gap, Target, Walgreens, Federal Express, UPS, Airborne Express and the U.S. Postal Service.

For the three months ended March 31, the company is reporting an 18% decrease in sales to $50 million, and a 41% increase in its net loss to $4.4 million. The higher losses are in part due to penalties assessed on defaulted loans.

The company’s share price is trading near the bottom of its 52-week range, which includes a low of 50 cents a share in December of last year and a high of more than $8 last July. Monday morning, shares were trading for $1.08, off two cents from Friday’s close.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.