Symmetry Closes Plant in Maine

Symmetry Medical Inc. will close its plant in Auburn, Maine, and consolidate its operations into other facilities as part of a broader restructuring program. The consolidation is slated to be complete by the middle of 2010, and the company did not release any information on how many employees would be affected. The consolidation will include the transfer of current production capacity, including equipment and machinery.

Company execs said the move would better position the company for the anticipated recovery of the orthopedic sector.

With this move, the Warsaw, Ind.-based manufacturer of orthopedic implants, instruments and cases hopes to streamline its business and reduce costs.

The restructuring, once complete, is expected to generate annual cost savings of approximately $3.4 million. The total one-time cost of the plan will be $2.4 million to $2.8 million, according to Symmetry.

“These decisions are difficult under any circumstances, and we recognize the personal impact they have on those dedicated employees who have made contributions to the success of our business,” said Brian Moore, President and CEO of Symmetry. “We are committed to treating them fairly and with respect throughout this process.”

Symmetry has facilities throughout the United States and Europe, in addition to a plant in Malaysia.