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

Large part molder EnviroTech in 'growth mode,' adds space, equipment

November 26, 2014 9:54 am ET

Salt Lake City-based EnviroTech Molded Products Inc. is adding new equipment and expanding its factory as it gains business in some of its...    More

Image

Globalization brings sizable growth, primarily in Asia

November 25, 2014 1:40 pm ET

In 1990, the year after Plastics News published our first issue, there were 33,000 injection molding machines sold worldwide. Fast forward to 2013,...    More

Image

Uni Cap to build cap molding plant in Jordan

November 25, 2014 12:57 pm ET

The Persian Gulf's largest molder of caps and closures is investing $10 million in a new factory near Amman, Jordan, as part of an effort to boost...    More

Image

Deal adds U.K. plant to DelStar

November 25, 2014 12:47 pm ET

Schweitzer-Mauduit International Inc. (SWM) is acquiring certain assets from the advanced wound management division of London-based Smith & Nephew...    More

Image

Canada's Papp Plastics is eyeing big opportunities with JV in Mexico

November 24, 2014 4:11 pm ET

Canadian injection molder and turnkey solution provider Papp Plastics & Distributing Ltd. will open an $11 million to $12 million joint venture facili...    More

Market Reports

Plastics Caps & Closures Market Report

The annual recap of top trends and future outlook for the plastics caps & closures market features interviews with industry thought leaders and Bill Wood’s economic forecast of trends in growing end markets. You will also gain insight on trends in caps design, materials, machinery, molds & tooling and reviews of mergers & acquisitions.

Learn more

Plastics Recycling Trends in North America

This report is a review and analysis of the North American Plastics Recycling Industry, including key trends and statistics based on 2013 performance. We examine market environment factors, regulatory issues, industry challenges, key drivers and emerging trends in post-consumer and post-industrial recycling.

Learn more

Plastics in Mexico - State of the Industry Report

This report analyzes the $20 billion plastics industry in Mexico including sales of machinery & equipment, resins and finished products.

Our analysts provide insight on business trends, foreign investment, top end markets and plastics processing activity. The report also provides important data on exports, production, employment and value of plastics products manufactured.

Learn more

Upcoming Plastics News Events

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

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

June 2, 2015 - June 3, 2015Plastics Financial Summit - Chicago 2015

September 16, 2015 - September 18, 2015Plastics Caps & Closures - September 2015

October 27, 2015 - October 29, 2015Plastics Financial Summit - New York - 2015

More Events