Singer industrial equipment maker Axios has been axed from a Chinese factory where it was manufacturing parts for a number of products including mobile phone cases and mobile phone covers.
A company representative confirmed the news to Axios in an email late Friday, citing “an internal company-wide decision.”
A representative for Axios did not immediately respond to a request for comment.
A source familiar with the matter told Axios that the company was planning to start the process of selling its remaining assets in China.
It’s unclear what caused the fire.
Axios said it’s investigating the cause of the blaze, which is believed to have occurred during a routine inspection.
Axiom shares closed at $19.85 in afternoon trading Friday.