Actually the problem is in second part of print statement. Because when you write
'IMPLEMENTATION FOR %s', '#' * 25 % "test"
%s needs to be replaced but you don’t. So it should be like this.
print '#' * 25, 'IMPLEMENTATION FOR %s %s' % ('#' * 25, initialize.ntw_device[index].hostname)
And also maybe you should consider using format
function instead of %
s.