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<TABLE border=0 cellSpacing=0 cellPadding=0 width=452><TBODY><TR><TD vAlign=top width=452 colSpan=2>Published October 9, 2009
</TD></TR><TR><TD vAlign=top width=452 colSpan=2>S'pore clinches $80m pacemaker plant
Medtronic factory to hire more than 100 staff over the next two years
By CHEN HUIFEN
<TABLE class=storyLinks border=0 cellSpacing=4 cellPadding=1 width=136 align=right><TBODY><TR class=font10><TD width=20 align=right></TD><TD>Email this article</TD></TR><TR class=font10><TD width=20 align=right></TD><TD>Print article </TD></TR><TR class=font10><TD width=20 align=right></TD><TD>Feedback</TD></TR></TBODY></TABLE>
(SINGAPORE) Lifted by the availability of skilled workers, Singapore has trumped a host of other countries to draw an $80 million investment in a heart pacemaker factory.
<TABLE class=picBoxL cellSpacing=2 width=100 align=left><TBODY><TR><TD></TD></TR><TR class=caption><TD>On the map: Mr Gan and Mr Butelat the official opening of Medtronic's Asian and international HQ </TD></TR></TBODY></TABLE>The investment will be made by Medtronic Inc, which yesterday officially opened its Asian and international headquarters at a new building in Changi.
'I've done deals all over the world and this is the best investment climate, by far,' said Medtronic International executive vice-president and group president Jean-Luc Butel.
'Before we decided to come to Singapore, we looked at Switzerland, Ireland, Puerto Rico, Mexico, Malaysia, China, many, many places. And Singapore is really the best.
'Being in Asia is one of the reasons (for Singapore as a location choice). If you look at the growth of our markets globally, we have many areas that are doing extremely well. It is still Asia where we have the best growth.'
The Asia-Pacific generates over 10 per cent of Medtronic's overall revenue. Growth rates range from the low teens in developed markets and 'high 20s' in India and Asean.
Medtronic's new plant in Singapore aligns with its anticipation of 'significant growth' of the medical devices industry in the region. It will occupy about three-quarters of the 150,000 sq ft space at its newly opened building. Plans are under way to hire more than 100 staff over the next two years to make cardiac pacemakers and leads used to correct slow heart rhythms. Commercial production will start in 2011.
'We are setting up one manufacturing line that will be able to assemble about 100,000 devices a year and 60,000 corresponding leads,' said Medtronic International vice-president Francois Monory. If needed, the site will have enough capacity to expand into the production of other products to support growing demand in Asia, he added.
Output at the new plant will represent about 15 per cent of the group's global production of the same kind of pacemakers. Medtronic also makes them in Switzerland and Puerto Rico.
The Singapore plant is Medtronic's first in Asia and follows the setting up of its first-ever international headquarters, to oversee operations outside the US. Medtronic has also created an Asian regional HQ in Singapore, which will consolidate administrative and other service functions in the region, excluding Japan and Greater China.
Medtronic posted net earnings of US$2.2 billion for FY 2009 ended April, on total sales of US$14.6 billion. Its move here is a boost to Singapore's medical technology sector, which employs 8,200, or 66 per cent of the workers in the biomedical manufacturing industry.
At Medtronic's opening ceremony yesterday, Manpower Minister Gan Kim Yong announced a new programme to train more workers for the medical technology sector. Called the Precision Engineering Workforce Skills Qualifications Graduate Diploma in Medical Technology Manufacturing, the programme will equip trainees with the latest medical device manufacturing skills.
</TD></TR></TBODY></TABLE>
</TD></TR><TR><TD vAlign=top width=452 colSpan=2>S'pore clinches $80m pacemaker plant
Medtronic factory to hire more than 100 staff over the next two years
By CHEN HUIFEN
<TABLE class=storyLinks border=0 cellSpacing=4 cellPadding=1 width=136 align=right><TBODY><TR class=font10><TD width=20 align=right></TD><TD>Email this article</TD></TR><TR class=font10><TD width=20 align=right></TD><TD>Print article </TD></TR><TR class=font10><TD width=20 align=right></TD><TD>Feedback</TD></TR></TBODY></TABLE>
(SINGAPORE) Lifted by the availability of skilled workers, Singapore has trumped a host of other countries to draw an $80 million investment in a heart pacemaker factory.
<TABLE class=picBoxL cellSpacing=2 width=100 align=left><TBODY><TR><TD></TD></TR><TR class=caption><TD>On the map: Mr Gan and Mr Butelat the official opening of Medtronic's Asian and international HQ </TD></TR></TBODY></TABLE>The investment will be made by Medtronic Inc, which yesterday officially opened its Asian and international headquarters at a new building in Changi.
'I've done deals all over the world and this is the best investment climate, by far,' said Medtronic International executive vice-president and group president Jean-Luc Butel.
'Before we decided to come to Singapore, we looked at Switzerland, Ireland, Puerto Rico, Mexico, Malaysia, China, many, many places. And Singapore is really the best.
'Being in Asia is one of the reasons (for Singapore as a location choice). If you look at the growth of our markets globally, we have many areas that are doing extremely well. It is still Asia where we have the best growth.'
The Asia-Pacific generates over 10 per cent of Medtronic's overall revenue. Growth rates range from the low teens in developed markets and 'high 20s' in India and Asean.
Medtronic's new plant in Singapore aligns with its anticipation of 'significant growth' of the medical devices industry in the region. It will occupy about three-quarters of the 150,000 sq ft space at its newly opened building. Plans are under way to hire more than 100 staff over the next two years to make cardiac pacemakers and leads used to correct slow heart rhythms. Commercial production will start in 2011.
'We are setting up one manufacturing line that will be able to assemble about 100,000 devices a year and 60,000 corresponding leads,' said Medtronic International vice-president Francois Monory. If needed, the site will have enough capacity to expand into the production of other products to support growing demand in Asia, he added.
Output at the new plant will represent about 15 per cent of the group's global production of the same kind of pacemakers. Medtronic also makes them in Switzerland and Puerto Rico.
The Singapore plant is Medtronic's first in Asia and follows the setting up of its first-ever international headquarters, to oversee operations outside the US. Medtronic has also created an Asian regional HQ in Singapore, which will consolidate administrative and other service functions in the region, excluding Japan and Greater China.
Medtronic posted net earnings of US$2.2 billion for FY 2009 ended April, on total sales of US$14.6 billion. Its move here is a boost to Singapore's medical technology sector, which employs 8,200, or 66 per cent of the workers in the biomedical manufacturing industry.
At Medtronic's opening ceremony yesterday, Manpower Minister Gan Kim Yong announced a new programme to train more workers for the medical technology sector. Called the Precision Engineering Workforce Skills Qualifications Graduate Diploma in Medical Technology Manufacturing, the programme will equip trainees with the latest medical device manufacturing skills.
</TD></TR></TBODY></TABLE>