The Triangle’s budding smartgrid business sector is taking a hit.
Elster, a manufacturer of various metering devices and a developer of smartgrid technology, is shutting a Raleigh facility and another in Orlando.
Some 98 jobs will be lost in Raleigh over the rest of this year as an electrical meter plant at 201 S. Rogers Lane, Elster said in a notice filed with the North Carolina Department of Commerce.
A newspaper in Ocala, Fla. reported that Elster is shutting a water meter plant in that city with some 200 jobs affected.
The privately held company maintains its North American headquarters in Raleigh with some 500 local workers.
A British firm, Melrose, bought Elster last year in a deal worth $2.3 billion.
Layoffs in Raleigh will begin on March 29 with 12 jobs being terminated. Another 23 are scheduled to end on June 28. The remainder will be cut as of Dec. 31, Elster said in the notice.