Orthopedic device company Tornier has announced plans to consolidate its facilities to drive operational productivity and reduce operating expenses.
The consolidation will include relocation of its distribution operations in Texas to Minnesota. The company will also consolidate operations in the United States related to marketing, training, regulatory, clinical, supply chain and corporate functions to a single site in Minneapolis. The company's European facilities will be consolidated in St. Ismier, France, and Dunmanway, Ireland.
The company estimates it will incur $6 million to $7 million in restructuring charges but reduce annual operation expenses by $2.3 million to $2.8 million per year beginning in 2013.
More Articles on Orthopedic Devices:
38 Orthopedic & Spine Devices Receive FDA 510(k) Clearance in March
Biomet Net Sales Jump 5% in 3Q, DePuy Trauma Acquisition Looms
Smith & Nephew Acquires LifeModeler
The company estimates it will incur $6 million to $7 million in restructuring charges but reduce annual operation expenses by $2.3 million to $2.8 million per year beginning in 2013.
More Articles on Orthopedic Devices:
38 Orthopedic & Spine Devices Receive FDA 510(k) Clearance in March
Biomet Net Sales Jump 5% in 3Q, DePuy Trauma Acquisition Looms
Smith & Nephew Acquires LifeModeler