SMITHS GROUP
Medical devices manufacture in UK to end / Loss of 534 jobs / Production in Mexico
Medical device manufacturer Smiths Medical (Hythe, Kent / UK; www.smiths-medical.com) is to cease manufacture at its plant in Hythe within two years, with the likely loss of 534 jobs. Previously known as Portex, the plant has been in operation for over 50 years and has a range of plastic processing machinery for injection moulding, extrusion, blow moulding and compounding. Production will be transferred to the company´s two manufacturing facilities in Mexico.
Smiths said the closure is part of a rationalisation programme that has followed its acquisition of US medical device manufacturer Medex in March 2005 for USD 655m in cash and the assumption of net debt of USD 270m. During the past two months Smiths has closed former Medex manufacturing plants in Duluth, Georgia, and Wampsville / New York, transferring production to other US locations.
Hythe will remain as headquarters for Smiths Medical International and its centre of excellence for R&D in airway management and reproductive health products. These activities are expected to employ around 220 staff in production, finance, marketing and other support services. The site also will house the company´s new European shared service centre.
Smiths said the closure is part of a rationalisation programme that has followed its acquisition of US medical device manufacturer Medex in March 2005 for USD 655m in cash and the assumption of net debt of USD 270m. During the past two months Smiths has closed former Medex manufacturing plants in Duluth, Georgia, and Wampsville / New York, transferring production to other US locations.
Hythe will remain as headquarters for Smiths Medical International and its centre of excellence for R&D in airway management and reproductive health products. These activities are expected to employ around 220 staff in production, finance, marketing and other support services. The site also will house the company´s new European shared service centre.
06.04.2006 Plasteurope.com [205035]
Published on 06.04.2006