X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

ORANGE COUNTY, CA-In a move that reflects both shrinking sales at America’s personal computer companies and the retrenchment of Tokyo-based firms that once did great business in the United States, Japanese-owned CIE America Inc. says it will close its big Tustin facility and lay off most of the employees who survived the company’s previous cutbacks.

CIE America makes computer printers and related products. It was recently sold by a unit of Tokyo-based conglomerate Itochu Corp. to El Segundo-based Citizen America Corp., which itself is a unit of Tokyo’s Citizen Watch Co.

The closure of CIE’s Tustin plant will throw more than 50,000 sf of commercial space back onto Orange County’s already struggling market. It will also mean the loss of 24 jobs, on top of the 26 workers who have been let go by CIE America since its retrenchment began in December, says CIE marketing coordinator Chip Dorman.

Sales of personal and business computers have tumbled over the past few months, analysts say, subsequently lowering demand for printers made by CIE and its competitors. Though US-based PC manufacturers such as IBM and Apple Computer have been reluctant to initiate massive plant-closures, Japanese firms—which dominate the printer and peripherals market—have been more willing to take swift action because many Tokyo-based companies are suffering financial woes, and their country remains mired in a deep recession.

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
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt. NET LEASE Awards 2020Event

These awards honor the industry's most influential and knowledgeable real estate executives from the net lease sector.

Get More Information
 

GlobeSt

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 © 2020 ALM Media Properties, LLC. All Rights Reserved.