Lack of Work Forces LBH Engineering to Close
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LBH Engineering Co., a small Simi Valley concern, is being shut down because of the slowdown in commercial and industrial construction. The closure was announced by LBH’s parent, KLH Engineering Group Inc. of Denver.
“There are some good people there and we’re sorry to have to do this, but the lack of major construction projects has made the subsidiary unprofitable,” said Richard Kendall, KLH’s chief financial officer. He blamed lack of financing for the dearth of orders.
Kendall said recent layoffs had reduced the staff at LBH to eight employees.
“We’re going to try to transfer them to jobs elsewhere,” he said.
Shutting LBH and another subsidiary in Northern California, along with other cost-cutting steps, will save the parent company $100,000 a month in overhead, Kendall noted.
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