Cummins Executive Joins MedSource to Lead Business Excellence Initiative.Business Editors & Health/Medical Writers MINNEAPOLIS--(BUSINESS WIRE)--Feb. 4, 2003 MedSource Technologies, Inc., (Nasdaq:MEDT MEDT Military Equipment Delivery Team ), an engineering and manufacturing services provider to the medical device industry, today announced that Rolf Dahl has joined the company as Vice President of Business Excellence. Dahl will lead MedSource's Business Excellence initiative to implement a company-wide continuous improvement process that combines elements of lean manufacturing Lean manufacturing is the production of goods using less of everything compared to mass production: less human effort, less manufacturing space, less investment in tools, and less engineering time to develop a new product. , Six Sigma Not to be confused with Sigma 6. Six Sigma is a set of practices originally developed by Motorola to systematically improve processes by eliminating defects.[1] A defect is defined as nonconformity of a product or service to its specifications. and the Malcolm Baldrige
"Rolf is a strong and experienced addition to the MedSource team and we are excited to have him on board," said Richard J. Effress, MedSource's chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "Business Excellence will transform the way that we do business, leading to world-class performance in the delivery of all products and services to our customers, and we expect Business Excellence to become a distinct competitive advantage for the company." Effress noted that ultimately all MedSource employees will undergo training as part of the implementation of Business Excellence. Dahl, 39, joins MedSource from a 16-year career with Cummins, where he held a range of management positions. Most recently, Dahl served as executive director, Cummins Power Generation Americas Operations, where he was responsible for manufacturing and operations supporting $800 million in sales. Prior to that, he was executive director, Quality, Cummins Power Generation and International, where he successfully launched Six Sigma. Dahl, a native of Australia, holds a master's of business administration from Indiana University Indiana University, main campus at Bloomington; state supported; coeducational; chartered 1820 as a seminary, opened 1824. It became a college in 1828 and a university in 1838. The medical center (run jointly with Purdue Univ. , and a bachelor of science Noun 1. Bachelor of Science - a bachelor's degree in science BS, SB bachelor's degree, baccalaureate - an academic degree conferred on someone who has successfully completed undergraduate studies from Metropolitan State University, St. Paul, Minn. MedSource Technologies, Inc. provides engineering and manufacturing services, and supply-chain management solutions to the medical device industry. Customers include many of the largest medical device companies in the world as well as emerging device companies. Headquartered in Minneapolis, MedSource offers product development and design services, precision metal and plastic part manufacturing, and product assembly and supply chain management services. Production facilities are located throughout the United States as well as in Navojoa, Mexico. The Company's common stock is traded on The Nasdaq Stock Market Nasdaq stock market The first electronic stock market listing over 5000 companies. The Nasdaq stock market comprises two separate markets, namely the Nasdaq National Market, which trades large, active securities and the Nasdaq Smallcap Market that trades emerging growth companies. under the symbol "MEDT." Forward-Looking Statements This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended. In many cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "expect," "plan," "anticipate," "believe," "estimate, ""predict," "intend," "potential" or "continue" or the negative of these terms or other comparable terminology. These forward-looking statements involve risks and uncertainties. The Company's actual results could differ materially from those indicated in these statements as a result of certain factors contained in the Company's Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the year ended June 30, 2002. Readers should not place undue reliance on any such forward-looking statements, which are made pursuant to the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995 and, as such, speak only as of the date made. The Company does not assume any obligation to update the forward-looking statements after the date hereof. MedSource is on the Internet at www.medsourcetech.com |
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