Medical device maker to invest $18 million in new Florida plant

By Jeremy Carroll
Assistant Managing Editor

Published: November 25, 2013 3:14 pm ET
Updated: November 25, 2013 3:16 pm ET

Related to this story

Topics Medical, Injection Molding

Medical device manufacturer Covidien plans to open a new production facility in Hillsborough County, Fla., state officials announced.

The company plans to invest $18 million in the site, and create 165 jobs with the project. The company is in temporary space and will move into a 62,200-square-foot facility in mid-2014, Gov. Rick Scott's office said. Based in Dublin, and with a U.S. headquarters in Mansfield, Mass., Covidien has more than 38,000 employees in more than 70 countries.

Covidien manufacturers a number of items, including medical devices and medical supplies. The company did not announce what it plans to manufacture at the site.

Scott pointed to Florida's elimination of sales tax on manufacturing equipment as a potential key in driving the facility opening to the sunshine state.

"This announcement is great news and we will continue working hard to provide more jobs and opportunities for Florida families," he said in a statement.

Phil Devlin, vice president and general manager of Covidien, said they are excited about the new facility in Hillsborough County, home to Tampa Bay.

"We specifically selected Hillsborough County for several reasons, including its talented workforce and the Tampa Bay region's business climate, economy and quality of life," Devlin said in a statement. "Our new facility will not only provide jobs for the local community — it will support Florida's growing life science industry as well."

Covidien, a publicly held company, recently reported fourth-quarter and fiscal year 2013 results. The company reported net sales of $10.24 billion in fiscal year 2013, 4 percent higher than the $9.85 billion it reported in 2012.

Covidien reported medical device sales of $2.13 billion in the fourth quarter of 2013, up 3 percent over the same period last year. That jump was attributed to new products and increased volume of existing products, the company said. For the entire year, sales of medical devices climbed 5 percent to $8.49 billion in 2013.


Comments

Medical device maker to invest $18 million in new Florida plant

By Jeremy Carroll
Assistant Managing Editor

Published: November 25, 2013 3:14 pm ET
Updated: November 25, 2013 3:16 pm ET

Post Your Comments


Back to story


More stories

Image

Mission Plastics brings new automated work cell on line

August 26, 2014 4:17 pm ET

Custom injection molder Mission Plastics Inc. and a customer have created a $1.5-million automated work cell for a medical diagnostics product.    More

Image

Sonoco buys Germany's Weidenhammer, plans for thin-walled packaging growth

August 25, 2014 1:41 pm ET

Sonoco Products Co.'s acquisition of Weidenhammer Packaging Group GmbH of Germany includes plastic packaging technology that the company is targeting ...    More

Image

New contract for JCI workers heads off potential strike in Ontario

August 25, 2014 3:17 pm ET

About 300 unionized workers at a Johnson Controls Inc. interiors plant in Ontario ratified a new three-year contract, heading off a potential strike...    More

Image

Westminster Tool creates academy to find, train future toolmakers

August 22, 2014 2:06 pm ET

Westminster Tool Inc. begins its own Westminster Academy to find and train skilled employees.    More

Image

Prosthetic arm concept wins in student thermoforming competition

August 22, 2014 1:56 pm ET

Pressure forming company Freetech Plastics Inc. has returned with its annual Student Thermoformed Part Competition, intended to expand the exposure of...    More

Market Reports

Thermoformed Packaging 2014 Market Review & Outlook North America

This in-depth report analyzes economic and market trends, legislative/regulatory activity impacting supply and demand, business opportunities and threats, materials pricing, manufacturing technology, as well as growth strategies being implemented by thermoformed packaging companies.

Learn more

Pipe, Profile & Tubing Extrusion in North America 2014

U.S. demand for extruded plastics is expected to grow by 3 percent in 2014, with PVC remaining the largest segment.

Plastic pipe will post the strongest gains through 2018, continuing to take market share from competing materials in a range of markets.

Our latest market report provides in-depth analysis of current trends and their financial impact on the pipe, profile and tubing extrusion industry in North America.

Learn more

2014 Injection Molding Industry Report

GROWTH, OPPORTUNITY IN SIGHT FOR INJECTION MOLDERS IN 2014

In the wake of the economic turbulence earlier in this decade, molders today find themselves in much better shape. Molders are gaining a competitive advantage by investing in people, equipment and seeking inroads into new markets on a global scale.

Growth in the injection molding industry is going to be driven by low financing costs and a continued move to reshore some business.

Learn more

Upcoming Plastics News Events

September 10, 2014 - September 12, 2014Plastics Caps & Closures 2014

January 14, 2015 - January 14, 2015Plastics in Automotive

February 4, 2015 - February 6, 2015Plastics News Executive Forum 2015

More Events