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COPYRIGHT 2006 PR Newswire Association LLC
MENTOR, Ohio, Jan. 30 /PRNewswire-FirstCall/ -- STERIS Corporation today announced that the Company is transferring the manufacturing portion of its Erie, Pennsylvania operations to Mexico. The announcement follows a detailed analysis of cost reduction alternatives. The Company anticipates pre-tax savings of approximately $20 million annually in the first full fiscal year after this transfer is completed, which is expected to be in the summer of 2007.
STERIS manufactures sterilization equipment at the Erie facility for its Healthcare and Life Science business segments. Approximately 450 employees at the facility are associated with manufacturing and close to 230 employees serve in a variety of business support functions. STERIS expects to maintain its non-manufacturing presence in Erie following the transfer.
"The decision to transfer manufacturing activities from Erie to Mexico was a difficult one. However, the reality is that our core healthcare customers are under significant pressure to reduce costs and we are experiencing new global competition from lower cost...
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