Instrumed Buys Zimmer Plant
July 28, 2016 at 4:25 p.m.
Instrumedical Technologies Inc. will purchase and renovate the Zimmer manufacturing facility on North Detroit Street in Warsaw, according to an attorney representing Instrumed.
The announcement was made at Warsaw City Council meeting Monday night and coincided with a tax abatement request.
The building sits between the four-lane highway and Center Lake and includes 45,000 square feet of manufacturing space and almost as much office space.
Attorney Steve Snyder told council Instrumed President Tony Miller plans to make about $400,000 in renovations to the manufacturing area and purchase about $400,000 in new machinery.
The company, commonly referred to as Instrumed, needs to relocate into a large building, Snyder said.
As a result of the move, about 20 full-time jobs and three part- time jobs will be created.
Thirteen of those jobs would be created within the first year of operations at the new site.
The company, which manufactures medical instruments for the orthopedic industry, currently employs about 40 people.
Instrumed will finalize the deal with Zimmer by the end of this month. As a result, the company will vacate its plant at 2616 E. Corridor Drive, just north of the city.
Zimmer is expected to vacate the building by the end of July, Snyder said.
Zimmer spokesman Brad Bishop said the company has been phasing out work at the plant for the past year, but said the company would decline comment on the issue until the sale is finalized later this month.
Council voted on a preliminary request for tax abatement. The vote was unanimous.
Mayor Ernie Wiggins said he was happy to see the plant won't sit dormant and said the abatement is a good tool to induce its use.
Council also looked at annual renewal of abatement for four other companies, one of which didn't submit paperwork.
That issue was tabled until next month to provide more time for the new city planner to present details. The companies included Dalton Foundries, Morton International, Warsaw Coil and Othy. [[In-content Ad]]
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Instrumedical Technologies Inc. will purchase and renovate the Zimmer manufacturing facility on North Detroit Street in Warsaw, according to an attorney representing Instrumed.
The announcement was made at Warsaw City Council meeting Monday night and coincided with a tax abatement request.
The building sits between the four-lane highway and Center Lake and includes 45,000 square feet of manufacturing space and almost as much office space.
Attorney Steve Snyder told council Instrumed President Tony Miller plans to make about $400,000 in renovations to the manufacturing area and purchase about $400,000 in new machinery.
The company, commonly referred to as Instrumed, needs to relocate into a large building, Snyder said.
As a result of the move, about 20 full-time jobs and three part- time jobs will be created.
Thirteen of those jobs would be created within the first year of operations at the new site.
The company, which manufactures medical instruments for the orthopedic industry, currently employs about 40 people.
Instrumed will finalize the deal with Zimmer by the end of this month. As a result, the company will vacate its plant at 2616 E. Corridor Drive, just north of the city.
Zimmer is expected to vacate the building by the end of July, Snyder said.
Zimmer spokesman Brad Bishop said the company has been phasing out work at the plant for the past year, but said the company would decline comment on the issue until the sale is finalized later this month.
Council voted on a preliminary request for tax abatement. The vote was unanimous.
Mayor Ernie Wiggins said he was happy to see the plant won't sit dormant and said the abatement is a good tool to induce its use.
Council also looked at annual renewal of abatement for four other companies, one of which didn't submit paperwork.
That issue was tabled until next month to provide more time for the new city planner to present details. The companies included Dalton Foundries, Morton International, Warsaw Coil and Othy. [[In-content Ad]]