In a recent news release, Med-Fit Systems Inc recounts its purchase in February 2010 of the commercial assets of Nautilus, Inc, including the machinery, tooling, and employment base in Independence, Va. Under a separate agreement, Med-Fit Systems’ ownership also purchased the land and all of the buildings. The company news release notes that while Nautilus commercial had already officially closed its doors, Med-Fit Systems was able to save the brand through decisive action.
The Med-Fit Systems news release notes that a number of new product introductions followed this decision, in addition to the return of manufacturing from overseas to Virginia. In addition to creating more jobs in the US, this allowed for the “Made in the USA” stamp on virtually all of the company’s products, according to Med-Fit Systems.
Med-Fit Systems states that while it is committed to keeping its employees working in Virginia, a recent slowdown in sales trends required the seasonal adjustment of staff at the company’s manufacturing facility. At the same time, the ownership decided to put the commercial assets of Nautilus up for sale.
As noted on the Med-Fit Systems news release, Med-Fit Systems expects that a synergistic partner will be able to take the company to the next level with the proper capitalization needed to excel in the competitive global marketplace.
Source: Med-Fit Systems