ICU Medical to shutter Slovakia plant, lay off 265

ICU Medical (NSDQ:ICUI) said today that it’s planning to shutter a plant in Vrable, Slovakia, where it employs 265 workers, and transfer its operations to another facility in Mexico.

San Clemente, Calif.-based ICU said it expects to closure to be complete during the 3rd quarter of 2016, with the Slovakian production transferred to Ensenada, Mexico.

ICU Medical said it expects the closure to cost about $3.4 million pre-tax, including $1.3 million earmarked for severance, retention and other assistance. The net cash outlay is forecast at $3.3 million to $5.7 million during fiscal 2016, the company said.

Last month ICU Medical acquired Excelsior Medical for $59.5 million, with Excelsior’s SwabFlush and pre-filled saline and heparin flush syringes going to Medline Industries for $27 million upon closing.

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