Covidien to cut costs by outsourcing, consolidating plants

(Reuters) – Medical device maker Covidien Plc said it would cut costs by outsourcing services to low-cost locations and consolidating manufacturing and distribution centers. The company said it expects to record related charges of about $350 million to $450 million, most of which will be incurred by the end of fiscal 2018. Covidien said the restructuring, which has been approved by its board, is expected to save about $250 million to $300 million annually, with savings beginning in fiscal 2014 and accelerating in fiscal 2015. …

Analysis: Tech firms, medical research threatened by helium shortage

Handout photo of a helium dewar is shown at a Quantum Physics laboratory at the University of ChicagoBy Nina Chestney LONDON (Reuters) – A 90-year-old helium reservoir in Texas could shut down next month causing disruptions and raising costs for makers of high-tech products from MRI scanners to semiconductors and threaten medical treatments and research. More than 100 organisations, universities and companies, including Siemens, Philips, Samsung, and General Electric, wrote to the U.S. Congress last week urging it to keep the reservoir open or risk a disruption to the U.S. economy, putting millions of jobs at risk. …

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