Pelco: exits electronic access control business
Pelco: exits electronic access control business. Pelco President and CEO Dean Meyer announced that his Company “has initiated the necessary planning to exit the electronic access c...
Pelco: exits electronic access control business. Pelco President and CEO Dean Meyer announced that his Company “has initiated the necessary planning to exit the electronic access control (EAC) business with our Intelli-M product line. This decision requires that we explore the options to sell or spin-off the Intelli-M EAC business, as well as to close the EAC business in its entirety.”
He stated that “as the general economic outlook continues to worsen and as forecasts call for a prolonged challenge throughout 2009, we as a company are forced to continually adapt to market demands.”
According to management, employees impacted by this decision have been informed, and those placed on layoff status will be offered severance, outplacement and counseling services.
