Navigation Links
Symmetry Medical to Expand Malaysian Operations
Date:2/26/2008

- Company to Increase Manufacturing and Design and Development Capabilities

to Support Asian Market -

WARSAW, Ind., Feb. 26 /PRNewswire-FirstCall/ -- Symmetry Medical Inc. (NYSE: SMA), an independent provider of products to the global orthopedic device industry and other medical markets, announced today that it plans to invest $20 million over the next three years to expand its Malaysian operations by increasing manufacturing and design and development capabilities. The majority of the $20 million investment will occur by year end 2009.

Symmetry will move its existing case facility to a larger, new 50,000 square foot facility on Penang Island which will enable instrument production and implant finishing to be established. This facility will also house the regional design and development center together with a regional logistics operation.

A five acre site with the option to purchase an additional five acres has also been obtained by the Company on the Penang Science Park to build a dedicated forging operation. The site will have spare land that will enable future growth to be accommodated as the regional operation develops.

Brian Moore, President and Chief Executive Officer, stated, "We are very pleased with the progress that we have made on our Asia strategy. These investments in our Malaysian operations are consistent with our strategy of building a full service facility, capable of bringing our Total Solutions(R) business model to the Asian market by the end of 2009. We believe our current customers with locations in Asia will take full advantage of our increased capabilities. We have also begun to generate new customer relationships in the region as a result of our presence and expanding capabilities and look forward to further progress growing our presence."

About Symmetry Medical Inc.

Symmetry Medical Inc. is a leading independent provider of implants and related instruments and cases to the orthopedic device industry. The Company also designs, develops and produces these products for companies in other segments of the medical device market, including arthroscopy, dental, laparoscopy, osteobiologic and endoscopy sectors and provides limited specialized products and services to non-healthcare markets, such as the aerospace market.

Forward-Looking Statements

Statements in the press release regarding Symmetry Medical Inc.'s business, which are not historical facts, may be "forward-looking statements" that involve risks and uncertainties, within the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are predictive in nature and are frequently identified by the use of terms such as "may," "will," "should," "expect," "believe," "estimate," "intend," "anticipates," "plans" and similar words indicating possible future expectations, events or actions. Such predictive statements are not guarantees of future performance, and actual results could differ materially from our current expectations. Certain factors that could cause actual results to differ include: the loss of one or more customers; the development of new products or product innovations by our competitors; product liability; changes in management; changes in conditions effecting the economy, orthopedic device manufacturers or the medical device industry generally; and changes in government regulation of medical devices and third-party reimbursement practices. We refer you to the "Risk Factors" and "Forward Looking Statements" sections in the Company's most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission as well as the Company's other filings with the SEC, which are available on the SEC's Web site at http://www.sec.gov.

Investors/Media: Contact:

The Ruth Group Symmetry Medical Inc.

Nick Laudico/Jason Rando Fred L. Hite

(646) 536-7030/7025 Senior Vice President

nlaudico@theruthgroup.com Chief Financial Officer

jrando@theruthgroup.com (574) 371-2218


'/>"/>
SOURCE Symmetry Medical Inc.
Copyright©2008 PR Newswire.
All rights reserved

Related medicine news :

1. Facial asymmetry persists despite surgery to correct congenital deformity
2. Symmetry Medical to Provide Fourth Quarter 2007 General Business Update on February 14, 2008
3. Symmetry Medical Completes Acquisition of DePuy Orthopaedic Instrument Facility
4. Symmetry Medical Provides Update of Previously Disclosed Accounting Review at Sheffield, UK Operating Unit
5. Symmetry Medical Appoints John Hynes Chief Operating Officer, Europe
6. Symmetry Medical Launches New Global Web site
7. Symmetry Medical Completes Acquisition Of Specialty Surgical Instruments
8. KePRO Names Stuart B. Chesky, DO, JD, as Pennsylvania Medical Director
9. WallSt.net (www.wallst.net) Updates Investment Community Through All-New Interview With digiMedical Solutions
10. MedCom USA Signs Southwood Medical Marketing to Distribute MedCom System
11. SXC Health Solutions Corp. to acquire National Medical Health Card Systems, Inc.
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/5/2016)... ... 2016 , ... Love is in the air at King Kullen! The local ... packaging. This staple for Valentine’s Day is a must-have, and can be picked up ... not only are long-stem roses available, but also other flower bouquets, elegantly wrapped and ...
(Date:2/5/2016)... MN (PRWEB) , ... February 05, 2016 , ... The ... at the Day Block Event Center in Minneapolis, Minn. Triumph Over Parkinson’s will fund ... Larry Schneiderman, owner of Schneiderman’s Furniture, lives with Parkinson’s disease and is the architect ...
(Date:2/5/2016)... ... February 05, 2016 , ... Freed-Hardeman University ... Allen have signed a joint enrollment and degree completion agreement. The agreement, ... and baccalaureate degrees at FHU|Dickson. , The agreement allows students to be ...
(Date:2/5/2016)... ... February 05, 2016 , ... In the ... the country gathered at the La Valencia Hotel in San Diego, California to ... was named the year’s most outstanding franchise, walking away with the coveted David ...
(Date:2/5/2016)... , ... February 05, 2016 , ... Boar’s Head Brand®, ... in time for this weekend’s Big Game. Take the stress out of your party ... keep your guests happy at every stage of the game. , “The key to ...
Breaking Medicine News(10 mins):
(Date:2/4/2016)... , Feb. 4, 2016  SciClone Pharmaceuticals, Inc. ... it has entered into a settlement agreement with ... fully resolving the SEC,s investigation into possible violations ... the terms of the settlement agreement, SciClone has ... including disgorgement, pre-judgment interest and a penalty.  This ...
(Date:2/4/2016)... Feb. 4, 2016 Global Immunology Market ... to drive long-term market growth Summary ... of chronic disorders that affect 5–7% of western ... of their symptoms and key patient demographics, they ... immune pathways and an inappropriate immune response. Generally, ...
(Date:2/4/2016)... DIEGO, Feb. 4, 2016  Aethlon Medical, Inc. ... affinity biofiltration devices to treat life-threatening diseases, today ... 2016 ended December 31, 2015. ... objectives set forth in our last quarterly call, ... reinforce our long-term objective to establish the Aethlon ...
Breaking Medicine Technology: