MedSource Wins Minnesota Business Ethics Award.Business Editors MINNEAPOLIS--(BUSINESS WIRE)--May 1, 2003 MedSource Technologies Inc. (Nasdaq:MEDT MEDT Military Equipment Delivery Team ), an engineering and manufacturing services provider to the medical device industry, today announced it has received the 2003 Minnesota Business Ethics business ethics, the study and evaluation of decision making by businesses according to moral concepts and judgments. Ethical questions range from practical, narrowly defined issues, such as a company's obligation to be honest with its customers, to broader social Award (MBEA MBEA Marilyn Burns Education Associates (Math Solutions) ) for its commitment to high ethical business practices. Earning top honors in the "large company" category, the award was presented to MedSource at an awards ceremony in Bloomington, Minn. "MedSource has all the right things in place - a clear mission and values with accessible policies and processes, and corporate citizenship Corporate Citizenship The extent to which businesses are socially responsible in meeting legal, ethical and economic responsibilities placed on them by shareholders. The aim it to create higher standards of living and quality of life in the community in which it operates, while . It attends to all of its stakeholders, not just its investors," said Bob Shoemake, Director of Programs & Membership at the Center for Ethical Business Cultures. "While MedSource is a young company, it has laid a strong ethical cultural foundation that we believe will guide the company as it continues to grow." "We're especially honored to receive this award because it recognizes our dedication to ethical business conduct," said Richard J. Effress, 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. , MedSource. "From the very early stages of our company, we've centered our corporate culture around treating employees, suppliers and customers with dignity and respect, and maintaining the highest ethical standards in all business practices. We strive to create an environment of trust, teamwork and open communication that delivers consistent success to our customers, employees, business partners and shareholders." The MBEA's independent panel of judges Panel of Judges is an indie pop band from Melbourne, Australia. Members
The MBEA program was established in 1999 by the Center for Ethical Business Cultures and the Minnesota Chapters of the Society of Financial Service Professionals to raise the standards for business ethics in Minnesota and honor companies that exemplify integrity and ethical conduct. From a pool of 140 nominees, only two companies - MedSource and Minnesota-based Carlson Companies Carlson Companies (sometimes referred to as Carlson) is a privately held international corporation in the marketing, service, travel, and hospitality industries. Headquartered in Minneapolis, Minnesota, in the United States, as of 2005 Carlson Companies owned 5,300 travel - were selected to receive a 2003 MBEA award. As a 2003 winner, MedSource is now eligible for the nationwide American Business Ethics Awards competition sponsored by the Society of Financial Service Professionals. Past national winners include Electronic Data Systems (EDS (Electronic Data Systems, Plano, TX, www.eds.com) Founded in 1962 by H. Ross Perot (independent candidate for the President of the U.S. in 1992), EDS is the largest outsourcing and data processing services organization in the country. ), Pitney Bowes and Lockheed Martin. About MedSource 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." MedSource is on the Internet at www.medsourcetech.com |
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