WILMINGTON, Mass.--(BUSINESS WIRE)--Accellent Inc, a wholly-owned subsidiary of Accellent Holdings Corp., completed the sale of its facility located in Watertown, Connecticut to Utitec, Inc.,also headquartered in Watertown, Connecticut. The vast majority of the Facility's employees became employees of Utitec on January 1, 2013.
Donald Spence, Chairman and CEO of Accellent, stated, "This sale allows Accellent to continue to increase its focus on its core medical device markets and provides future growth opportunities for employees at the Watertown facility."
"We are very excited to begin a new era for the Watertown facility, and we believe our focused efforts and planned improvements will bring added value and greater opportunity to our customers," added Carl Contadini, Executive Chairman of Utitec. "We are in the process of making this transition as smooth and seamless as possible for our customers, vendors and employees. We are taking great effort to ensure that our customers will continue to be able to order and receive the highest quality products from the Watertown facility."
Accellent provides fully integrated outsourced manufacturing and engineering services to the medical device industry primarily in the cardiology, endoscopy and orthopedic markets. Accellent has broad capabilities in precision component fabrication, finished device assembly, complete supply chain management capabilities and engineering services. These capabilities enhance customers' speed to market and return on investment by enabling them to refocus internal resources more efficiently. For more information, please visit www.accellent.com.
Utitec is a contract manufacturer of precision, miniature drawn metal components for the medical and electronics industries. Tim Richards, who served as Utitec's CEO from 1991 until 2002, will be joining Utitec's board of directors.