WARSAW, Ind., July 21 /PRNewswire-FirstCall/ -- Zimmer Holdings, Inc. , a designer, manufacturer and global distributor of orthopaedic devices, announced today it will expand its north central Indiana operations here, creating nearly 100 new jobs by 2011.
The maker of joint replacements, spinal systems and other implants plans to invest more than $19 million to add approximately 50,000 square feet to its foundry operations, boosting automation of the facility and increasing annual output by approximately 1.3 million castings a year.
"Companies like Zimmer can locate new job-creating investment anywhere. For the fourth time in four years, Indiana has won the global competition for new investment from Zimmer, and Hoosiers will benefit from the new jobs the company will create for years to come," said Governor Mitch Daniels.
Headquartered in the Indiana city of 13,000, Zimmer will begin hiring engineers, supervisors and machine operators in 2009 to staff the expanded metal-making facility. The company currently employs approximately 2,800 at its Warsaw operations.
"We are making a number of quality and infrastructure investments to prepare Zimmer to compete in the health care markets of the future," said Zimmer Holdings President and Chief Executive Officer David Dvorak. "The demand for joint replacements continues to grow worldwide and we are pleased to be adding this state-of-the-art foundry to our Warsaw facilities to address growth in a very cost-effective manner."
The Indiana Economic Development Corporation offered Zimmer up to $400,000 in performance-based tax credits based on the company's job creation plans. Warsaw will provide the company with property tax abatement.
"We are very excited that Zimmer is reinvesting in Warsaw," said Warsaw Mayor Ernest B. Wiggins. "The quality of our workforce and their unmatched work ethic continues to be a major factor in growing this vital industry in Indiana."
Zimmer's expansion in Warsaw is the fourth in four years for the 81-year-old company. In 2007, the company announced a $66 million project to add 120,000 square feet to its manufacturing and distribution facility, creating more than 140 new jobs. Two years earlier, the company announced plans to expand its global research and development center, adding 275 high-tech jobs and nearly 100,000 square feet of laboratory workspace to the company's Warsaw West campus. In 2004, the company announced a $64 million project to expand its manufacturing and distribution centers here.
Known as the "Orthopaedic Capital of the World," Warsaw is home to the headquarters of three of the world's five largest makers of artificial joints and related surgical instruments.
About Zimmer
Founded in 1927 and headquartered in Warsaw, Indiana, Zimmer is a worldwide leader in designing, developing, manufacturing and marketing orthopaedic reconstructive, spinal and trauma devices, dental implants, and related orthopaedic surgical products. Zimmer has operations in more than 25 countries around the world and sells products in more than 100 countries.
Zimmer's 2007 sales were approximately $3.9 billion. The Company is supported by the efforts of more than 8,000 employees worldwide.
About IEDC
Created by Governor Mitch Daniels in 2005 to replace the former Department of Commerce, the Indiana Economic Development Corporation is governed by a 12-member board chaired by Governor Daniels. Indiana Secretary of Commerce Nathan Feltman serves as the chief executive officer of the IEDC. Since Daniels created the IEDC, the state has posted three consecutive years of record-breaking job creation. For more information about IEDC, visit www.iedc.in.gov .
Zimmer Safe Harbor Statement
This press release contains forward-looking statements within the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 based on current expectations, estimates, forecasts and projections about the orthopaedics industry, management's beliefs and assumptions made by management. Forward-looking statements may be identified by the use of forward-looking terms such as "may," "will," "expects," "believes," "anticipates," "plans," "estimates," "projects," "assumes," "guides," "targets," "forecasts," and "seeks" or the negative of such terms or other variations on such terms or comparable terminology. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that could cause actual outcomes and results to differ materially. For a list and description of such risks and uncertainties, see our periodic reports filed with the U.S. Securities and Exchange Commission. We disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be set forth in our periodic reports. Readers of this document are cautioned not to place undue reliance on these forward-looking statements, since, while we believe the assumptions on which the forward-looking statements are based are reasonable, there can be no assurance that these forward-looking statements will prove to be accurate. This cautionary statement is applicable to all forward-looking statements contained in this document.
CONTACT: Media Contacts: Brad Bishop (Zimmer), +1-574-372-4291 or
Bradley.Bishop@zimmer.com; Mitch Frazier (IEDC), +1-317-232-8873 or
MFrazier@iedc.in.gov; Zimmer Investor Contacts: Paul Blair, +1-574-371-8042
or Paul.Blair@zimmer.com; James Crines, +1-574-372-4264 or
James.Crines@zimmer.com
Web site: http://www.zimmer.com/
http://www.iedc.in.gov/
