Recruitment has begun for a new pharmaceutical manufacturing facility which is scheduled to create 40-50 jobs in Ringaskiddy, Co Cork.

The £13.5 million (€17.14 million) project is a joint venture between two German companies - Dr Willmar Schwabe GMBH & Co and Lichtwer Pharma GMBH - and will involve the extraction of the active ingredients of the St John's wort plant for use in a herbal extract for the treatment of depression.

The bulk output from the Cork plant will be exported to the parent companies in Germany where it will be finished and packaged.