EXFO consolidates photonics and life sciences group.(EXFO Electro Optical Engineering Inc.)(Brief Article)

QUEBEC CITY, CANADA -- At least 25 people will be affected by Exfo Electro-Optical Engineering decision to consolidate operations of its Photonics and Life Sciences Division. In ongoing efforts to improve its market focus, efficiency, and cost structure, Exfo is transferring the Exfo Burleigh Products Group from Victor/Fishers, NY, to Toronto. The Victor, NY, operation was acquired in November 2000 when Exfo bought Burleigh Instruments for $40 million in cash and Exfo shares then valued at $235 million.

Once fully implemented, the company expects to incur restructuring and other charges of US$2.7 million, of which US$1.7 million will be recorded in the fourth quarter …