Digital storage company Imation Corp. will close its Camarillo plant later this year as it consolidates its manufacturing into a single location. The closure will cost 140 jobs and $20 million in restructuring and related charges, the company said. The closure of the Camarillo facility and a plant in North Dakota will make Imation more competitive and eliminate excess manufacturing capacity, President and CEO Frank Russomanno said. Oakdale, Minn.-based Imation reported for the second quarter a net income of $7.2 million, or $0.19 per diluted share, on revenues of $547 million. That is an improvement from the net loss of $1.4 million, or $0.04 per diluted share, on revenues of $412.8 million for the second quarter in 2007.
