Word: advent
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Dates: during 1970-1979
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...corporation, which grossed $35 million last year, is leaving primarily for economic reasons," Peter Sprague, president of Advent, said yesterday. Advent's plant now comprises eight separate buildings in the Cambridge area which are "old, dilapidated and difficult to operate," Sprague said...
Sprague said Advent could have remained in Cambridge by purchasing land at $2 per square foot in Kendall Square, but he added that such a purchase would have required the corporation to construct a multi-story building on the property. "A single-story facility is a hell of a lot more efficient," he said...
...Advent has secured 250,000 square feet of space in a one-story building for speaker production in New Hampshire at the rate of $2.65 per square foot. "I can't imagine a situation where someone could [have found similar facilities] for $2.65 per square foot in Cambridge," Sprague said...
...Although Advent made the decision to leave Cambridge last summer, the corporation did not plan on moving until this spring. However, because of a slackening of business in November which Sprague would have required a two- to three-month lay-off for a large number of workers, he felt Advent should use its lag time to move rather than wait...
Workers are unhappy over the move, since few will be rehired for the New Hampshire plant. Advent plans to give New Hampshire residents preference over jobs and lower wages than Cambridge workers now receive, Danehy said...