At a recent groundbreaking ceremony, the world's second largest producer of dental implants and leader in dental tissue regeneration products, Straumann of Switzerland, unveiled plans for a new combined U.S. headquarters, training and production center in Minuteman Park, Andover, 25 miles north of downtown Boston. The company plans to move into the new facilities in mid-2005.
With an investment of up to USD 50 million over the next five years, the new site will house Straumann's U.S. management, currently headquartered in Waltham, Mass. It will also accommodate a state-of-the-art production and development unit to manufacture high precision implants for tooth replacement. When operational at the end of 2005, the new unit will supply the North American market and will complement Straumann's current production unit in Villeret, Switzerland, which opened in 2000 and is expanding capacity.
To meet the increasing demand for its dental implants and tissue regeneration products and to drive future growth, Straumann intends to more than double its U.S. workforce within five years to between 400 and 500 people.
Straumann is currently the fastest-growing company in its global sector, having generated an average compound growth rate in sales in excess of 20% over the past five years, with the U.S. sales growing considerably faster.
The company's expansion in Andover reflects its strategic priority to grow in its U.S. market, where it is estimated to rank number three with a segment share of about 20%. The U.S. contributes 25% of total sales, a figure that Straumann aims to boost to at least 35% by 2008. To achieve this ambitious goal and drive future growth, the company has expanded its U.S. sales team by 70% over the past 18 months to 90 representatives.
