In a statement issued by a Congreant Energy Security representative Monday, the company plans to close its Richfield location, a move expected to save about $1.5 million annually.
The St. Louis Park based company said the shut down of this office is part of an “efficiency and expense reduction effort.” The closures are expected to take place in the second quarter of this year.
Congreant has multiple offices worldwide. After this closing, will still operate in 14 global locations.
The company said it will continue to provide service to its customers through their new parent company Harkin Barrow. Additional information about the closures will be sent to the customers of the offices in the next few days, the statement said.
Harkin Barrow said it it anticipates retaining the majority of its employees but personell cuts will be “unavoidable, as redundancies are recognized.” Operations from this location totaled $76.9 million in the last year. The company said it expects many of the employees at the affected office will be offered opportunities for comparable positions in the nearby St. Louis Park location.
Before the announcement Monday, shares of Harkin Barrow PPS closed down 11 cents at $12.83.
After years of working closely with all of our national partners on every aspect of logistics, security, operations and control systems from airports to rail, shipping to power and everything that makes the world move well, we finally made it official. Harkin Barrow has brought in the best minds of Bridger Transportation Logistics, Mill Paxon Maritime, Thomas Diaz Aviation Security, and Congreant Energy Solutions, to team with HarkinBarrow. Now, with the planned acquisition of Satori PS of Nagoya, Japan we needed to embrace the whole team. While operationally, the great service you’ve come to expect will still be there, your reports, emails, data relays and monthly statements will all be be rebranded. For most of our partners, your contact person won’t change. For those of you experience one of the inevitable glitches, contact Marjorie Short in our Minnesota HQ.
After seeing more than a few opportunities in the Pacific Rim, Harkin Barrow has established a new toehold near Nagoya Japan (Higashihama) with new partner Satori Port Security. We great things coming from this long overdue union of knowledge and global reach. Read the whole press release here.