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E.I. Bankruptcy Sale Update

The sale of Endicott Interconnect Technologies assets is expected to be finalized later this month.
The sale of Endicott Interconnect Technologies assets is expected to be finalized later this month.

The transaction to Integrian Holdings has been on the fast track in bankruptcy court. Jim Matthews Junior, whose family owns part of E.I., also owns Integrian. In a statement, Matthews told NewsChannel 34 that it is Integrian's goal to preserve jobs and keep the electronics manufacturing firm active in our area. Matthews also says he appreciates the hard work and dedication of the E-I workforce, and pledges to work with them, suppliers and business partners to meet the needs of E.I.'s customers. Integrian says it is still working on options for employee benefits and programs.

E.I. currently employs 575 people. It's unclear if those people will have to interview with Integrian to keep their jobs. Endicott Interconnect filed for bankruptcy early this year after being about 80 million dollars in debt. About $67 million of unsecured debt to creditors and investors will be wiped out through the bankruptcy. E.I., which is based on the Huron Campus in Endicott, was formed more than 10 years ago when it bought IBM's microelectronics division.
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