Published September 2002

Unova moving headquarters to southwest Everett

By Eric Fetters
Herald Business Writer

Intermec’s parent company, Unova Inc., is moving its headquarters from Southern California to Everett.

The move, which will shift up to 38 people from Woodland Hills, Calif., is expected to take place in the next 12 to 18 months, said David Brooks, director of public and investor relations for Unova. The corporate headquarters will be inside Intermec’s building near the Seaway Center industrial area in southwest Everett.

“There’s a couple of things behind the move,” Brooks said. “Our CEO, Larry Brady, wanted to bring operating management and corporate management together. It made sense to co-locate the two headquarters.”

In addition to being chief of Unova, a $1.5 billion industrial technology company, Brady took over as president of Intermec Technologies Corp. in 2000. That relationship with Intermec weighed in the decision to move here, Brooks said.

The other advantage is cost. Unova recently sold the building housing its corporate headquarters for more than $14 million. It will lease space there until completing the move to Everett, Brooks said.

Intermec makes bar-code scanners, mobile computers and other inventory control equipment at the Everett site. While employing more than 725 people, there is room to absorb Unova’s offices, said Kathie Jackson Anderson, an Intermec spokeswoman.

Traded on the New York Stock Exchange under the symbol UNA, Unova became a public company in 1997 after being spun off from Western Atlas Inc., which in turn had been spun off three years before from Litton Industries Inc.

While moving the corporate headquarters involves only a few dozen people, Unova’s relocation to Everett adds a big name to the list of public companies based in the county. That only helps with efforts to recruit others, according to the Economic Development Council of Snohomish County.

“We are proud to welcome Unova headquarters to the growing roster of technology companies in Snohomish County,” said Reid Shockey, board chairman for the council. “Anytime a company headquarters comes to our region it confirms our reputation as a world-class business location.”

This is the second public company this year to announce a relocation to the county. Earlier this summer, Nastech Pharmaceutical Co. began moving its headquarters from New York state to Bothell. Unova would be the 19th company based in the county with stock traded on a major exchange.

In addition to Intermec, Unova’s industrial automation systems division includes leading manufacturers of integrated machining and precision grinding systems, primarily for the automotive, aerospace and heavy equipment industries. Worldwide, all of Unova’s divisions and subsidiary businesses employed more than 6,700 people as of last year.

In 2001, Unova reported sales topping $1.5 billion, with a net loss of $292 million for the year. Since then, the company has been trying to reduce expenses, and reported a profit of $22 million for the second quarter of this year.

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