Zimmer-Biomet being hurt financially by slow Puerto Rico recovery

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Hurricane Maria left its mark on Puerto Rico, an island that still has a long road to recovery. But that devastating hurricane also is having an impact on a major Warsaw business.

Zimmer-Biomet is having some financial pains this year and those pains are expected to linger into next year. The main culprit is that two plants the company has in Puerto Rico have been shuttered since Hurricane Maria ravaged the island.

The Times-Union reports the company reported a 1.1 percent decrease in revenues in the third-quarter of 2017 from the year before. Sales also dropped 3-percent in the Americas compared to the same period one year ago.

The company is also dealing with the remediation of a former Biomet plant along U.S. 30 in Warsaw.

“Like many, we have encountered problems of mainly consistent power causing a more gradual return to full production than originally anticipated,” said Daniel Florin, interim chief executive officer and chief financial officer. “Given the continued instability of infrastructure in Puerto Rico and current safety stock levels, we now expect some minor sales disruption in the fourth quarter and into 2018.”

 

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