Wallingford fiber-optic cable and electronic connectors maker Amphenol Corp. says its upstate New York plant sustained upwards of $35 million in flood damage from recent storms that forced it to close temporarily for the second time in five years.
The Sidney, N.Y., plant supplies the military/aerospace market, Amphenol said in a statement issued late Thursday.
Amphenol says it is still assessing damages from back-to-back Tropical Storms Irene and Lee, but preliminary loss estimates range between $20 million and $35 million, or 7 cents to 13 cents a share. The loss will likely be reflected in its third quarter that ends Sept. 30, the company said.
But it might have been worse, Amphenol says. In 2006, sudden, severe weather flooded the same plant. As a result, using state and local assistance, Amphenol says it renovated the plant with flood-abatement measures that should help mitigate the severity of the latest flooding.
Meantime, Amphenol said employees and outside vendors are cleaning up the plant to try to get it partially back on line as early as next week, with full production restored within 30 days.
The number of plant workers and whether they remain on the payroll while the facility is shut was unknown Friday. Company officials did not immediately return a phone call seeking comment.
