MENTOR, Ohio, April 19 /PRNewswire-FirstCall/ -- STERIS Corporation today announced that the Company has selected a facility in the Monterrey area of Mexico, as the future site for manufacturing operations that are being transferred from Erie, Pennsylvania, as previously announced.
The Company has entered into an agreement to lease a facility owned by the Avante Group, a Monterrey-based real estate development company, located in the City of Guadalupe, just east of Monterrey in the state of Nuevo Leon and approximately two and a half hours south of Laredo, Texas. The facility comprises approximately 13 acres in the Guadalupe Industrial Park. Terms of the lease agreement were not disclosed.
The Company noted that it evaluated a number of sites in Mexico and determined that having a facility in the Monterrey area offered a number of key advantages including an excellent infrastructure, supply base, and access to distribution points, as well as the availability of skilled labor. In addition, educational institutions in the region and an existing manufacturing base of international companies offer the Company access to engineering and management talent.
After some initial build-out and construction at the site, the Company plans to transfer the operations in phases, which are expected to continue through the summer of 2007. When fully operational, the new facility will manufacture sterilization equipment for use in healthcare institutions, pharmaceutical production facilities and research laboratories.
About STERIS
The mission of STERIS Corporation is to provide a healthier today and safer tomorrow through knowledgeable people and innovative infection prevention, decontamination and health science technologies, products and services. The Company's more than 5,000 dedicated employees around the world work together to supply a broad array of solutions by offering a combination of equipment, consumables and services to healthcare, pharmaceutical, industrial and government customers. The Company is listed on the New York Stock Exchange under the symbol STE. For more information, visit www.steris.com.
This news release may contain statements concerning certain trends, expectations, forecasts, estimates, or other forward-looking information affecting or relating to the Company or its industry that are intended to qualify for the protections afforded "forward-looking statements" under the Private Securities Litigation Reform Act of 1995 and other laws and regulations. Forward-looking statements speak only as to the date of this report, and may be identified by the use of forward-looking terms such as "may," "will," "expects," "believes," "anticipates," "plans," "estimates," "projects," "targets," "forecasts," and "seeks," or the negative of such terms or other variations on such terms or comparable terminology. Many important factors could cause actual results to differ materially from those in the forward-looking statements including, without limitation, disruption of production or supplies, changes in market conditions, political events, pending or future claims or litigation, competitive factors, technology advances, and changes in government regulations or the application or interpretation thereof. Other risk factors are described in the Company's Form 10-K and other securities filings. Many of these important factors are outside STERIS's control. No assurances can be provided as to any future financial results. Unless legally required, the Company does not undertake to update or revise any forward-looking statements even if events make clear that any projected results, express or implied, will not be realized. Other potential risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements include, without limitation, (a) the potential for increased pressure on pricing that leads to erosion of profit margins, (b) the possibility that market demand will not develop for new technologies, products or applications, or the Company's business initiatives will take longer, cost more or produce lower benefits than anticipated, (c) the possibility that application of or compliance with laws, court rulings, regulations, certifications or other requirements or standards may delay or prevent new product introductions, affect the production and marketing of existing products, or otherwise affect Company performance, results, or value, (d) the potential of international unrest or effects of fluctuations in foreign currencies of countries where the Company does a sizeable amount of business, (e) the possibility of reduced demand, or reductions in the rate of growth in demand, for the Company's products and services, and (f) the possibility that anticipated cost savings may not be achieved, or that transition, labor, competition, execution, regulatory, governmental, or other issues or risks associated with the matters described in this release may adversely impact Company performance, results, or value.
STERIS CorporationCONTACT: Investor and National Media, Aidan Gormley, Senior Director,Corporate Communications and Investor Relations, +1-440-392-7607, or LocalMedia (Mexico and Erie), Stephen Norton, Manager, Corporate Communications,+1-440-392-7482, both of STERIS Corporation
Web site: http://www.steris.com/
