After backing off a previous purchase agreement, Integrian Holdings, LLC has submitted the winning bid to purchase Endicott Interconnect. Integrian owner and minority shareholder of EI, James Matthews, says his company is positioned to take control of EI. The last hurdle is approval at a U.S. Bankruptcy Court hearing today. Matthews owns an eight percent minority interest in Endicott Interconnect, and his family owns a controlling interest in the company. Endicott Interconnect originally filed for Chapter 11 bankruptcy protection in July, citing close to $87 million liabilities and $36 million in assets, after the company suffered nearly $100 million in operating losses between 2009 and 2012. From January of 2012 to July of this year, the workforce at EI had to be reduced from over 1,100 employees to the current 575 employees. Endicott Interconnect is a microelectronics manufacturer founded in 2002 as the successor of the IBM operations in Endicott.
