WARSAW, Ind., July 21 Zimmer Holdings, Inc.(NYSE: ZMH; SWX: ZMH), a designer, manufacturer and global distributor oforthopaedic devices, announced today it will expand its north central Indianaoperations here, creating nearly 100 new jobs by 2011.
The maker of joint replacements, spinal systems and other implants plansto invest more than $19 million to add approximately 50,000 square feet to itsfoundry operations, boosting automation of the facility and increasing annualoutput by approximately 1.3 million castings a year.
"Companies like Zimmer can locate new job-creating investment anywhere.For the fourth time in four years, Indiana has won the global competition fornew investment from Zimmer, and Hoosiers will benefit from the new jobs thecompany will create for years to come," said Governor Mitch Daniels.
Headquartered in the Indiana city of 13,000, Zimmer will begin hiringengineers, supervisors and machine operators in 2009 to staff the expandedmetal-making facility. The company currently employs approximately 2,800 atits Warsaw operations.
"We are making a number of quality and infrastructure investments toprepare Zimmer to compete in the health care markets of the future," saidZimmer Holdings President and Chief Executive Officer David Dvorak. "Thedemand for joint replacements continues to grow worldwide and we are pleasedto be adding this state-of-the-art foundry to our Warsaw facilities to addressgrowth in a very cost-effective manner."
The Indiana Economic Development Corporation offered Zimmer up to $400,000in performance-based tax credits based on the company's job creation plans.Warsaw will provide the company with property tax abatement.
"We are very excited that Zimmer is reinvesting in Warsaw," said WarsawMayor Ernest B. Wiggins. "The quality of our workforce and their unmatchedwork ethic continues to be a major factor in growing this vital industry inIndiana."
Zimmer's expansion in Warsaw is the fourth in four years for the81-year-old company. In 2007, the company announced a $66 million project toadd 120,000 square feet to its manufacturing and distribution facility,creating more than 140 new jobs. Two years earlier, the company announcedplans to expand its global research and development center, adding 275high-tech jobs and nearly 100,000 square feet of laboratory workspace to thecompany's Warsaw West campus. In 2004, the company announced a $64 millionproject to expand its manufacturing and distribution centers here.
Known as the "Orthopaedic Capital of the World," Warsaw is home to theheadquarters of three of the world's five largest makers of artificial jointsand related surgical instruments.
Founded in 1927 and headquartered in Warsaw, Indiana, Zimmer is aworldwide leader in designing, developing, manufacturing and marketingorthopaedic reconstructive, spinal and trauma devices, dental implants, andrelated orthopaedic surgical products. Zimmer has operations in more than 25countries around the world and sells products in more than 100 countries.
Zimmer's 2007 sales were approximately $3.9 billion. The Company is supportedby the efforts of more than 8,000 employees worldwide.
Created by Governor Mitch Daniels in 2005 to replace the former Departmentof Commerce, the Indiana Economic Development Corporation is governed by a12-member board chaired by Governor Daniels. Indiana Secretary of CommerceNathan Feltman serves as the chief executive officer of the IEDC. SinceDaniels created the IEDC, the state has posted three consecutive years ofrecord-breaking job creation. For more information about IEDC, visitwww.iedc.in.gov .
Zimmer Safe Harbor Statement
This press release contains forward-looking statements within the safeharbor provisions of the Private Securities Litigation Reform Act of