Circuit board maker DDi Corp. is relocating its Anaheim headquarters and manufacturing operations under one roof.
The company announced Wednesday it plans to purchase a 96,000-square-foot building for $7.5 million near its Anaheim campus, which houses eight separate buildings.
The deal is expected to close this month.
The company is exploring taking out a mortgage on the property, “given the attractiveness of the low interest rates available to the company,” President and Chief Executive Mikel Williams said.
DDi expects to complete the move before its current leases expires at the end of the third quarter.
The company will save some cash in the long run, as its current lease near La Palma Avenue costs more than $800,000 annually with upkeep, according to Williams.
DDi has been on the same Anaheim campus since the late 1970s.
The new building is equipped with upgrades that will aid manufacturing, including clean rooms, filtration systems, and HVAC systems.
“It’s going to make their process more efficient,” said spokeswoman Kimberly Esterkin. “This is going to be a massive new building that houses everything.”
About two-thirds of the building will be earmarked for manufacturing and the rest for office space.
The company employs about about 330 people in Anaheim and more than 1,600 companywide.
DDi makes circuit boards that later are assembled with chips.
The boards go inside equipment for aerospace, military, industrial, medical, networking and communication uses.
About a third of DDi’s business is in aerospace and defense.
The company gets customers by quickly turning around boards, especially on prototypes.
Most of the company’s orders are completed in less than 10 days. Some are done in as little as 24 hours.
“Quick turn” work brings higher profits for boards, which otherwise are a dime a dozen.
The company posted an adjusted profit of $20 million on $267 million in revenue in 2010.
DDi’s shares are down more than 1% in early afternoon New York trading to market value of about $188 million.
