The company’s Advanced Wound Management business is set to lose 140 jobs by July 2016 as production is transferred from Hull to Suzhou in a bid to “fully utilise” all its manufacturing facilities.
But the company said Hull remains a “major cornerstone” of the business and plans to invest $16m in the plant.
Noel Waters, Senior Vice President, Global Operations at Smith & Nephew, said: “We are very proud of our heritage in Hull and the site remains a major cornerstone of Smith & Nephew. We are delivering new programmes and actively working on bringing new processes to Hull in order to maximise the benefits from our highly skilled workforce and to continue to create a sustainable future for the site.”
The multi-million dollar investment includes spending $4.7m on flood defences, following a flood on the site in December. Last year the company launched 23 new products.
Mr Waters added: “The specialised manufacturing expertise in Hull will ensure we continue our high rate of innovation, developing new and enhanced market leading products.”