Smith+Nephew ‘breaks ground’ on new high technology manufacturing facility in Penang, Malaysia
250,000 square-foot facility to create up to 800 jobs over the next five years
Smith+Nephew, the global medical technology business, is pleased to announce the start of construction of its new high technology manufacturing facility located in Batu Kawan Industrial Park in Penang, Malaysia.
The occasion was graced by the attendance of Y.A.B. Tuan Chow Kon Yeow, Chief Minister of Penang, who said: “On behalf of the Penang State Government, I wish to congratulate Smith+Nephew on this milestone – ground-breaking of its first South-East Asia manufacturing facility. The medical technology and devices industry is playing an increasingly important role in Penang. Today, including Smith+Nephew, 8 out of 30 top global medical devices companies, based on 2018 revenue, are operating or have announced their investments in Penang. I foresee that Penang will continue to gain traction in attracting global players in the medical devices industry.”
The 250,000 square-foot new facility will primarily support Smith+Nephew’s Orthopaedics franchise, which has been growing strongly in the Asia Pacific region, creating up to 800 new local jobs over the next five years. This will include roles in manufacturing, engineering and supply chain.
Mark Gladwell, President of Global Operations, Smith+Nephew, who opened the ground-breaking ceremony, said: “We are delighted to start work on this new facility which will be an important addition to our global manufacturing footprint. I look forward to seeing the development of the new site, and, as we move forward, welcoming new employees to Smith+Nephew.”
Dato’ Azman Mahmud, Chief Executive Officer of MIDA, also in attendance, said: “We are proud that Smith+Nephew has recognised Malaysia as an ideal home to meet its burgeoning regional demands. Given the vibrant business environment prevailing in the country, we are optimistic that Smith+Nephew will benefit from the established ecosystem and facilities that Malaysia and specifically Penang, offers. The presence of Smith+Nephew will contribute to raising the standard of our medical devices industry and in turn, lift Malaysia to centre stage in the global investment arena of medical technology manufacturing.”
|Francesca Dunning||+44 (0) 1923 477314|
Smith+Nephew is a portfolio medical technology business that exists to restore people’s bodies and their self-belief by using technology to take the limits off living. We call this purpose ‘Life Unlimited’. Our 17,500+ employees deliver this mission every day, making a difference to patients’ lives through the excellence of our product portfolio, and the invention and application of new technologies across our three global franchises of Orthopaedics, Advanced Wound Management and Sports Medicine & ENT. Founded in Hull, UK, in 1856, we now operate in more than 100 countries, and generated annual sales of $5.1 billion in 2019. Smith+Nephew is a constituent of the FTSE100 (LSE:SN, NYSE:SNN). The terms ‘Group’ and ‘Smith+Nephew’ are used to refer to Smith & Nephew plc and its consolidated subsidiaries, unless the context requires otherwise.
This document may contain forward-looking statements that may or may not prove accurate. For example, statements regarding expected revenue growth and trading margins, market trends and our product pipeline are forward-looking statements. Phrases such as “aim”, “plan”, “intend”, “anticipate”, “well-placed”, “believe”, “estimate”, “expect”, “target”, “consider” and similar expressions are generally intended to identify forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other important factors that could cause actual results to differ materially from what is expressed or implied by the statements. For Smith+Nephew, these factors include: economic and financial conditions in the markets we serve, especially those affecting health care providers, payers and customers; price levels for established and innovative medical devices; developments in medical technology; regulatory approvals, reimbursement decisions or other government actions; product defects or recalls or other problems with quality management systems or failure to comply with related regulations; litigation relating to patent or other claims; legal compliance risks and related investigative, remedial or enforcement actions; disruption to our supply chain or operations or those of our suppliers; competition for qualified personnel; strategic actions, including acquisitions and dispositions, our success in performing due diligence, valuing and integrating acquired businesses; disruption that may result from transactions or other changes we make in our business plans or organisation to adapt to market developments; and numerous other matters that affect us or our markets, including those of a political, economic, business, competitive or reputational nature. Please refer to the documents that Smith+Nephew has filed with the U.S. Securities and Exchange Commission under the U.S. Securities Exchange Act of 1934, as amended, including Smith+Nephew’s most recent annual report on Form 20-F, for a discussion of certain of these factors. Any forward-looking statement is based on information available to Smith+Nephew as of the date of the statement. All written or oral forward-looking statements attributable to Smith+Nephew are qualified by this caution. Smith+Nephew does not undertake any obligation to update or revise any forward-looking statement to reflect any change in circumstances or in Smith+Nephew’s expectations.
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Speech by CEO of MIDA_Smith+Nephew Groundbreaking Ceremony (**Corrupted PDF File)