Local Tech Wire
DURHAM, N.C. – , a defense and aerospace manufacturer, is moving its headquarters to Durham from New Jersey.
The company, which recently sold off a subsidiary, announced the move Wednesday.
Emrise makes electronic devices and communications equipment. Its headquarters will be located at 2530 Meridian Parkway.
How many employees would be involved in the move was not disclosed.
"We are locating the Company’s headquarters in North Carolina because we believe it to be a business friendly state, particularly for Emrise,” said Carmine Oliva, the firm’s chairman and chief executive officer in a statement. “We also felt that remaining on the East Coast would keep our headquarters in a location central to our domestic and international operations and to our principal markets in North America and Europe."
Emrise sold its subsidiary Advanced Control Components, using much of the proceeds to pay down debt as part of a corporate realignment and cost reduction plan.
The company has annualized revenues of between $30 million and $33 million.
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