New England Cuts 2008 Plant Closures 30% Over Last Year

SUGAR LAND--July 10, 2008--Reported by Annette Kreuger, Industrial Info Resources (Sugar Land, Texas)--In one of those good news/bad news situations, there are 30% less plants targeted for closure this year in New England than the 2007 loss of 23. Unfortunately, when looking forward from January 2008 through the end of the year, a recent analysis of Industrial Info's Industrial Manufacturing Industry database reveals that the region still has 16 plants that have either already closed or are currently scheduled to do so. One of several companies to close plants this year is biotech firm Alkermes Incorporated (NASDAQ:ALKS) (Cambridge, Massachusetts), which has targeted its Chelsea, Massachusetts, plant after ending its partnership earlier this year with Eli Lilly & Company (NYSE:LLY) (Indianapolis, Indiana) to develop inhaled insulin.