Flambeau Makes $2.5 Million Investment to Enter Medical Device Market

Flambeau Medical Markets Group (FMMG) recently announced that it will invest $2.5 million in its medical device contract manufacturing business. This is part of the company's plan to expand group sales to $100 million by 2020.Tom Star, VP of sales and marketing for the FMMG, stated, "That would be about 500 percent growth from where we are today." Flambeau Medical Markets Group was formed in 2011 from Flambeau Inc. Flambeau Inc. is a group that concentrates in plastics injection molding and is part of Nordic Group of Cos. Ltd.For its new manufacturing operations, Flambeau Medical has been able to acquire a new facility next to its manufacturing facility based in Phoenix, Arizona. Flambeau Medical is also building an ISO Class 7 clean room with injection molding presses.In a recent phone interview, Star stated, "Our target is to have it operational by March 1." He continued, "We just took possession of the building last week. This will be our first thrust into making medical devices. To contain contamination risks and achieve the quality we need for our customers, we wanted the manufacturing in a building that was separate from the current building where we do industrial molding and tooling."According to ranking data from Plastics News in 2011, Flambeau is in the top 25 blow molder companies in the United States. For the fiscal year ending on June 30th, 2012, the company had sales of $105 million.Referenceshttp://www.plasticsnews.com/headlines2.html?id=26947