Food packing remains strong for Adept
The firm said it was changing its Adept PAC and SoftPIC market strategy from a direct end user model to a channel based line integration model consistent with rest of the food packaging business.
The aim is to reduce average selling price per unit and allow leverage through access to diverse application segments within the food industry, said the company.
Adept also announced it had completed restructuring operations that are expected to result in annual savings of $6m which will be fully realized by the fourth quarter of fiscal 2013.
"Over the last quarter we narrowed our focus, restructured our team, and implemented aggressive actions to achieve major cost reductions, substantially lowering the breakeven of the business,” saidJohn Dulchinos, Adept's chief executive officer
“These efforts will give the company the opportunity to both invest key strategic resources in our future growth opportunities, while simultaneously becoming cash flow positive."