Gaymar set to close, cutting 160 jobs (BuffaloNews.com)
Maker of medical devices, founded in 1956, will shutter Orchard Park and West Seneca operations after buyout by Stryker Corp. last year
Gaymar Industries' Orchard Park and West Seneca operations will close by the end of next year, eliminating 160 jobs, victims of cost-cutting measures by its new parent company.
Gaymar, a maker of medical devices, was acquired by Stryker Corp. last year for $150 million in an all-cash deal. Michigan-based Stryker, a Fortune 500 medical technology giant, recorded sales of $7.3 billion in 2010.
Stryker will shut down Gaymar's production lines and relocate its equipment to other sites in phases next year, said Tamara Cutler, a spokeswoman for the parent company. Gaymar's layoffs will also occur in phases; when those layoffs will begin has not been announced.
While the Orchard Park and West Seneca locations will close, a Gaymar facility in Puerto Rico is "not impacted at this time," Stryker said.
Gaymar was founded in 1956 and makes products that treat pressure ulcers and manage body temperature. At the time of 2010 deal, Stryker's chairman, president and chief executive officer, Stephen ...
