Autocam Medical plans $ 60 million expansion and 250 new jobs
KENTWOOD, MI – Autocam Medical is building a new plant near the corner of Broadmoor Avenue SE and 36th Street, a $ 60 million investment that is expected to create 250 new jobs by 2024.
John Kennedy, chairman and CEO of the medical device company, said the plant was needed to meet growing demand for Autocam products, created for some of the country’s leading medical companies, including Stryker and Johnson & Johnson.
“In 2014, I think we were only around $ 10 million in sales,” he said. “We are now operating at a rate of almost 60 (million dollars) from this building. In five years, he grew, obviously, very quickly.
The new plant will help Autocam Medical “add $ 100 million in additional sales” within five years, Kennedy said.
Kennedy started Autocam Medical in 2009 as a spin-off of Autocam Corp. It sold Autocam Corp., an auto parts supplier, in 2014 to NN, Inc. of Johnson City, Tenn. in a deal valued at $ 300 million.
Autocam Medical creates a line of products, including plates and screws used in shoulder implants as well as drills and other tools used in surgical procedures. It employs approximately 230 people in western Michigan and has factories in Plymouth, Massachusetts, as well as Murfreesboro, Tennessee. It is also established in China and Brazil.
Construction on the company’s new plant, 3607 Broadmoor Ave., began in April.
The 100,000-square-foot building is expected to open in January 2022, with operations at full capacity by 2024, Kennedy said.
He said the overall project is expected to cost $ 60 million, including around $ 40 million for new equipment and the rest to finance the building itself.
“We’re excited to be doing this in western Michigan,” Kennedy said. “We have a great workforce here. There are a lot of people who can help train newcomers.
All the equipment planned for the building, which will serve as Autocam Medical’s global headquarters, is expected to be installed by 2024.
Kennedy said the 250 new positions, which include skilled machinists, engineers and technicians, will be phased in over the next several years.
“The average hourly associate at Autocam Medical earns nearly $ 58,000 per year plus perks, including quarterly incentives, a generous $ 401,000 of $ 3,000, and a no-premium health plan that rewards employees for their choices. positive lifestyle, ”the company said in a press release.
“In addition, employees can expect a clean, air-conditioned environment with state-of-the-art equipment, as well as a culture that trusts and respects each individual.
Autocam Medical will continue to operate its existing plant at 4152 E. Paris Ave. SE in Kentwood after the new plant opens.
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