Phillips Plastics said that it is exploring ways to leverage its merger with European-based Medisize as it officially announced that it will now be known as Phillips-Medisize Corp.
In one move, Phillips is increasing design and development capabilities in the Netherlands to complement existing services in the United States. CEO Matt Jennings said that 90% of the company's business now comes through its design and development centers which do $60 million to $70 million in sales annually. The total sales of the merged companies are approaching $500 million.
Jennings also said the company is trying to lure medical device assembly business conducted in Mexico to a low-cost Medisize advanced assembly manufacturing site in the Czech Republic as part of what he calls growing interest in "Europe-for-Europe" manufacturing strategy....