US healthcare group Abbott yesterday unveiled its new €90 million manufacturing facility in Clonmel, Co Tipperary, which will enable it to expand its vascular operations.
Abbott acquired Guidant Corporation's vascular businesses earlier this year, which included the Clonmel site. The new facility is being used to produce vascular devices such as Abbott's new drug-eluting stent system that will be used in the treatment of cardiovascular diseases.
Abbott Vascular also announced a further €30 million investment in an administration building in Clonmel. The new investment will create up to 600 high-tech jobs in Clonmel by the end of 2007.
The division is also investing in the development of its Galway operation, which was recently granted planning permission to build a new 13,935sq m (150,000sq ft) facility.
"We are pleased to continue our legacy of commitment to Ireland and to the Clonmel and Galway communities," Pat Ryan, vice-president of Abbott Vascular's manufacturing operations, said yesterday.
Despite a relatively high cost base here, Abbott still considers Ireland to be a good investment.
"We think we get value for money based on the quality of the employees that we bring in." A well-educated workforce remained one of the country's attractions, he said.
"We have a lot of investment here already - engineers, chemists, manufacturing supervisors who know our methods and know our quality systems - so it's easy to leverage what we have to facilitate this growth, which we need to do very quickly," he said. "So for us it's a good investment and a very smart move."
Speaking at the opening of the Clonmel facility, Minister for Enterprise Michéal Martin said: "Abbott's decision to expand its infrastructure immediately and the recruitment of additional staff . . . is excellent news for Clonmel." He added that Clonmel and Galway were now well positioned to lead Abbott's planned growth in the global coronary care market.
Abbott now has nine manufacturing operations around the Republic and an Irish workforce of more than 3,300 people, making it one of the largest multinationals employers located here.
