fbpx

Herley to move work to Lancaster

Herley Industries Inc. will significantly downsize its
operations in Farmingdale, N.Y.,
and move most of the work to its other facilities, including the plant in Lancaster County.

Herley Industries Inc. will significantly downsize its
operations in Farmingdale, N.Y.,
and move most of the work to its other facilities, including the plant in Lancaster County.

The announcement came this morning, a day after Herley,
based in Manheim Township pleaded guilty to two criminal
counts in a settlement with the U.S. Justice Department. The company will pay the
government a total of $9.5 million as part of the settlement.

Herley’s reorganization is necessary to improve
profitability, according to the company. Herley will continue marketing
operations at the Farmingdale offices. Manufacturing will be moved to Lancaster County;
Whippany, N.J.;
Woburn, Mass.;
and Jerusalem.

Herley-Farmingdale, also known as General Microwave Corp., consistently
reported losses to the company and became the largest contributor to poor
performance, according to Herley. It acquired General Microwave in 1999.

Herley’s stock, traded on the Nasdaq under the ticker symbol
HRLY, jumped 22 percent yesterday to close at $14.75. Prices dipped below that
this morning, but climbed to $14.91 by 10:30 a.m.

Business Events

2019 Game Changers

Monday, November 04, 2019
2019 Game Changers

2019 Best Places to Work in PA

Thursday, November 21, 2019
2019 Best Places to Work in PA

2019 Icon Honors

Tuesday, December 17, 2019
2019 Icon Honors