Blue Circuit Board maker says it will stop making lamps after 10 years
Circuit board maker Blue Circuit said Tuesday that it will no longer manufacture lamps after more than 10 years, as the industry struggles with a decline in demand for lighting.
The announcement comes amid a broader trend toward automation in lighting and electronics, and comes at a time when manufacturers have been struggling to meet a growing demand for lamps.
Blue Circuit said it plans to stop producing lamps in the U.S. for the first time in the next 10 years.
It is one of a number of manufacturers that have been cutting back on the number of fixtures they make.
The company’s stock price has been hammered this year by reports that the Trump administration is considering closing some factory jobs to save on environmental costs.
“The company is currently evaluating our options for the foreseeable future,” said Doug O’Neill, vice president of business development at Blue Circuit.
“However, it has never been our intent to close down our U. S. manufacturing operations.”
The company said it would spend $5.7 billion on electric vehicles and related initiatives over the next five years, while reducing its U.K. plant count.
Blue Circuit’s annual sales are expected to drop by around 10 percent in 2019, the company said.
The U.N. agency that is trying to protect the environment is expected to recommend measures to cut emissions from cars and light bulbs by as much as 60 percent by 2025.
Blue is part of a growing trend in lighting products made by Chinese and other Asian companies, said John Auerbach, an analyst with the investment firm Cowen & Co. Blue’s move comes after a spate of other lamp makers announced they would shutter their factories.