Fort Wayne Metals signs agreement with IDA to Build 25,000 square-feet manufacturing facility.

Posting record revenues and earnings in 2001 and citing growth potential in the European market, Fort Wayne Metals, already the US leader in Precision Medical Wire production, announced its agreement with the IDA Ireland to increase its European presence and build a 25,000 square-foot manufacturing facility in Castlebar, County Mayo, Ireland. The Ireland facility, scheduled to be complete by 4th quarter this year, is the company’s fourth manufacturing facility and third European operation, including a sales office in Oirschot, Netherlands.

As part of the IDA agreement, Fort Wayne Metals will hire 12-15 employees from the Irish labor force, to include its General Manager, Michael O'Donnell, a resident of the area. Based on historical growth patterns and specific demand in the European market, Fort Wayne Metals projects the size of this operation to increase significantly in the next five years.

With the increasing number of existing and potential customers in Ireland and Europe, our strategic plans called for expansion overseas in 2002. The IDA provided us with the right incentives at the right time. We appreciate the effort that this organization (the IDA) has afforded Fort Wayne Metals during the site location phase of this project, said Scott Glaze, chief executive officer, Fort Wayne Metals.

Our short-term and long-term strategic initiatives are to continue to retain market share domestically by providing design support, continued understanding of new material innovations, quality product and customer service, while also increasing our share in the European market. The ability to draw closer to our European customers through this Ireland expansion is the next logical step, added Glaze.

Fort Wayne Metals, the market leader in the precision wire industry, produces wire for use in catheters, guide wires, implantable leads, orthopaedic devices, orthodontic appliances, needles and sutures and other demanding applications.