Pelco management announced to its employees in consideration of the economic situation, the company decided to take aggressive steps in order to focus resources on supporting Pelco's core video security business.
Pelco President and CEO Dean Meyer said, "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. In response, we have 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."
Management further noted that these options are being explored and the company will be closing the Pelco Indianapolis facility which primarily houses the resources for its access control development along with elements of general product support and training.
Meyer added, "As we have indicated on numerous occasions, we are forced to monitor the market and be prepared to make difficult decisions swiftly in response to whatever challenges we are presented. This is another such decision but one that is necessary for us to maintain focus on efforts that are expected to best help Pelco weather the storm."