The Shingo Prize for Excellence in Manufacturing, called the "Nobel Prize for manufacturing" by Business Week magazine, was awarded to Boston Scientific for its achievements in lean manufacturing at the Company's Minnesota facility.
"This prestigious award is national recognition that our commitment to create and maintain a best-in-class manufacturing environment at Boston Scientific is succeeding," said Jim Tobin, President and Chief Executive Officer of Boston Scientific. "The Shingo Prize is further validation that our drive to innovate, whether in products or processes, is pushing us to new levels of achievement. This award is a tremendous accomplishment for our operations team and those who support our manufacturing environment."
The Shingo Prize winners "clearly demonstrate the universal value of lean enterprise among the manufacturers of North America in terms of performance excellence for quality, cost, delivery, and business results," according to Shingo Prize Executive Director Ross Robson.
The Shingo Prize was created in 1988 to promote awareness of lean manufacturing concepts and recognize companies in North America that achieve world-class manufacturing status. The Shingo Prize is overseen by a Board of Governors made up of leading representatives of businesses, professional organizations and academic institutions. It is administered by the Office of Business Relations in the College of Business at Utah State University.
Boston Scientific is a worldwide developer, manufacturer and marketer of medical devices whose products are used in a broad range of interventional medical specialties. For more information, please visit: www.bostonscientific.com.
This press release contains forward-looking statements. The Company wishes to caution the reader of this press release that actual results may differ from those discussed in the forward-looking statements and may be adversely affected by, among other things, operational improvements, and other factors described in the Company's filings with the Securities and Exchange Commission.