WARSAW, Ind., March 26, 2014 (GLOBE NEWSWIRE) -- Symmetry Medical Inc. (NYSE:SMA), a leading global source of innovative medical device solutions, including surgical instruments, orthopedic implants, and sterilization cases and trays, announced today that its Sheffield, UK manufacturing plant has returned to full operational activity following a minor electrical fire that occurred in its temporary Acid Shop on March 8, 2014. The refurbishment, repair and validation work on the temporary Acid Shop was completed ahead of the Company's original expectations for completion in early April. The Company confirmed that it projects little financial impact beyond a delay in revenue from first quarter 2014 to second quarter 2014 of approximately $1 million.
Thomas J. Sullivan, President and Chief Executive Officer of Symmetry Medical, stated, "We are pleased that our team was able to quickly repair the temporary Acid Shop and return our Sheffield manufacturing plant to full operational activity. We have been in close communication with Sheffield customers throughout the process and expect minimal disruption to their orders as a result of our business continuity plan and the relatively short period that the line was out of service."
About Symmetry Medical Inc.
Symmetry Medical Inc. is a leading global source of innovative medical device solutions, including surgical instruments, orthopedic implants, and sterilization cases and trays. The Company's thousands of Teammates provide design, development and worldwide production capabilities for these products to customers in the orthopedic industry, other medical device markets, and specialized non-healthcare markets. Symmetry's trusted reputation and brands, broad Intellectual Property portfolio and commitment to innovation enable it to collaborate with hundreds of global medical device manufacturers as well as thousands of hospitals to provide solutions for today's needs and tomorrow's growth.
Statements in the press release regarding Symmetry Medical Inc.'s business which are not historical facts may be "forward-looking statements" that involve risks and uncertainties, within the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are predictive in nature and are frequently identified by the use of terms such as "may," "might," "will," "should," "expect," "believe," "anticipate," "plan," "estimate," "intend," and similar words indicating possible future expectations, events or actions. Such predictive statements are not guarantees of future performance, and actual outcomes and results could differ materially from our current expectations. We refer you to the "Risk Factors" and "Forward Looking-Statements" sections in the Company's most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission as well as the Company's other filings with the SEC, which are available on the SEC's Web site at www.sec.gov.
CONTACT: Symmetry Medical Inc. Fred L. Hite Senior Vice President Chief Financial Officer (574) 371-2218 Investors: The Ruth Group Zack Kubow (646) 536-7020 firstname.lastname@example.orgSource:Symmetry Medical Inc.