August 14, 2007 -- Smith & Nephew , Europe's biggest medical devices firm, said on Tuesday it planned to close its manufacturing operation in Florida, United States, and build a new plant in China. A spokeswoman said around 150 people would be affected by the closure of the plant in Largo, Florida, which is expected to take place during 2009. "Smith & Nephew is purchasing land to provide manufacturing capacity in China and plans for construction of a facility are underway," the British firm said in a statement.
The Largo plant makes products for Smith & Nephew's (S&N) woundcare business, which employs more than 3,100 people around the world. S&N has around 9,600 staff worldwide. "It's always our company policy to try to redeploy people when they have the necessary skills for a job," the spokeswoman said. S&N said its Allevyn adhesive dressings would be produced in China but that production of Allevyn products in Hull, England, would continue.
The firm, which also makes joint implants and instruments for keyhole surgery, launched an efficiency drive in May aimed at adding at least $150 million to its trading profit by 2010. It said at the time that there would be an unspecified number of job losses and that it would look to expand its manufacturing base in China. At 1030 GMT, S&N shares were down 0.3 percent at 605.5 pence, valuing the firm at 5.5 billion pounds ($11.1 billion).
Source: Reuters News
Source: Factiva
