CLARENCE, N.Y., Oct. 2, 2001 (PRIMEZONE) -- Wilson Greatbatch Technologies, Inc. (WGT) (NYSE:GB), a leading developer and manufacturer of power sources and other critical components used in implantable medical devices and other technically demanding applications, today announced a major expansion of its facilities in Clarence, New York.
In announcing the expansion, Edward F. Voboril, Chairman of the Board, President and CEO stated, "We are today commencing an expansion of our existing manufacturing facilities in Clarence with the addition of a 12,300 square foot dedicated research and development center. This new research and development center will include up-to-date equipment and testing facilities that will help us to maintain our leadership position as a developer of enabling technologies for our customers in the implantable medical device industry. This expansion will allow us to add approximately 65 new full-time positions. These new research and development facilities will also permit us to attract and retain the best scientists and engineers, the lifeblood of our company's technology focus."
The new research and development center will contain offices, equipment and approximately 4,400 square feet of dry and wet labs. These new facilities will also give us more production space in our existing facilities, and allow us to further grow our battery production capabilities. Construction will begin immediately with occupancy planned for April 2002. The research and development project is budgeted at $4 million, with financial assistance expected from New York Empire State Development through grants and tax exemptions.
Voboril further commented, "Wilson Greatbatch Technologies has been committed to the Western New York area for over 30 years, having created a strong and growing workforce while investing millions of dollars into its local economy. We currently have five facilities in Western New York and the capital improvements, renovations, and new machinery and equipment anticipated in this expansion will further benefit our area by ensuring that we remain an enabling technology leader in the implantable medical device industry."
Wilson Greatbatch Technologies, Inc., with operations in New York, Maryland, Massachusetts and Nevada, is a leading developer and manufacturer of power sources and other critical components used in implantable medical devices and other technically demanding applications. Additional information about Wilson Greatbatch Technologies, Inc. is available at http://www.greatbatch.com.
Some of the statements in this press release and other written and oral statements made from time to time by the company and its representatives are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of Securities Exchange Act of 1934, as amended, and involve a number of risks and uncertainties. These statements can be identified by terminology such as "may," "will," "should," "could," "expects," "intends," "plans," "anticipates," "believes," "estimates," "predicts," "potential" or "continue" or the negative of these terms or other comparable terminology. These statements are based on the company's current expectations. The company's actual results could differ materially from those stated or implied in such forward-looking statements. Risks and uncertainties that could cause actual results to differ materially from those stated or implied by such forward-looking statements include, among others, dependence upon a limited number of customers, product obsolescence, inability to market current or future products, pricing pressure from customers, reliance on third-party suppliers for raw materials, products and subcomponents, fluctuating operating results, inability to maintain high quality standards for our products, challenges to our intellectual property rights, product liability claims, inability to successfully consummate and integrate acquisitions, unsuccessful expansion into new markets, competition, inability to obtain licenses to key technology, regulatory changes or consolidation in the healthcare industry, and other risks and uncertainties described in the company's Annual Report on Form 10-K and other periodic filings with the Securities and Exchange Commission. The company assumes no obligations to update forward-looking information included in this press release to reflect changed assumptions, the occurrence of unanticipated events or changes in future operating results, financial conditions or prospects.