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Symmetry Medical Manufacturing/Tecomet Announces Plant Closures

Source: Tecomet, Inc.

Symmetry Medical Manufacturing Inc., a Tecomet Company, announced today that it will be closing two of its facilities that manufacture medical devices, one in Avilla, Indiana, and one in New Bedford, Massachusetts. The closures will not affect Symmetry's product line or customer contracts. Symmetry explained that the reason for the closures is that both facilities have struggled to make a profit over the past several years. The work will be transferred to other existing product locations, and is expected to improve quality, delivery times, and ultimately position Tecomet as an even more valued global supplier to customers. Symmetry expressed regret that the closure will, however, mean the separation of over 300 employees, 129 employees in Indiana and 190 employees in New Bedford. The closure of the Avilla facility is slotted for December 31, 2015, and the closure of the New Bedford facility is slotted for March 31, 2016. Employee separations will be occurring at both facilities in a series of waves, the first at both facilities to start in mid-summer. In addition to working closely with State Rapid Response Dislocated Worker Units to assist the displaced employees and offering employees opportunities at other facilities where possible, Symmetry has provided extra compensation for those employees who stay throughout the closure.

About Tecomet, Inc.

Founded in 1964, and based in Wilmington, MA, Tecomet manufactures orthopedic implants, precision surgical instruments, trauma plates and photochemical etched products for medical device customers. Tecomet uses its industry-leading prototyping and engineering capabilities to produce highly complex products that provide innovative solutions for its customers' most demanding products and applications. Tecomet is also a leading manufacturer of precision components to the aerospace & defense industry, producing products used in missile & satellite propulsion systems, vision systems, and infrared applications. For more information about Tecomet, please visit www.tecomet.com.