The official opening of the new printing press was a "celebration of the future of The Irish Times", the company's managing director told guests at the event in Citywest.
Ms Maeve Donovan spoke of the newspaper's "fascinating history" and of the difficult 10 months from which it had emerged.
But the emphasis was on the future, and she predicted that, in years to come, 2002 would be seen as the year in which The Irish Times took a "giant leap forward in securing its longevity and its vital independence".
The new printing press was the culmination of a four-year process, Ms Donovan said, which had begun as the old press - which introduced colour to the national daily newspaper market in the 1980s - neared the end of its natural life.
The demands of a changing Ireland, in particular the traffic congestion and the pressure for earlier delivery, had dictated a move from Dublin city-centre to the site at Citywest, where the first sod was turned in July 2000.
The new press came from the same source as the old one, Germany's MAN Roland. The manufacturers, world leaders in the industry, delivered a machine which could print "a 64-page newspaper, in full colour, in up to four sections", Ms Donovan said.
The "mailroom" - which packages and despatches the newspaper - came from a Swiss company, Muller Martini, while the building of the plant involved sub-contractors from Ireland, Britain, Austria, Germany and the Netherlands - "truly an international line-up".
She added: "It is a tribute to all concerned, most particularly to Séamus McCague, our director of technology and resources, who led the project, that all went smoothly and that this magnificent facility, comparable with any in Europe, is in operation today."
All had not gone smoothly elsewhere, Ms Donovan conceded. Towards the end of last year, the company "slid into crisis" caused by the combination of a rising cost base and a slump in the advertising market. As the Citywest project proceeded, The Irish Times had embarked on the "parallel project of restructuring the business from top to bottom".
No area of operation had been overlooked in the effort to create a strong, sustainable and flexible organisation capable of coping with the volatility which many experts believed would be ever-present in global economics.
"Ten months on, thanks to the combined efforts of staff, management and unions in a robust partnership process, we are coming to the end of the beginning. The cost base has come into line with what is right for The Irish Times and we are now involved in the delicate task of reorganising all aspects of our operations for productivity and efficiency.
"There has been a dramatic change within the business. Central to that change is the unwavering commitment and loyalty of Irish Times people to what we are and what we do."
Ms Donovan added: "This is a great day for everyone who is part of The Irish Times. In any circumstances, it would be so. In the light of the events of the last 10 months, it is all the sweeter to be here and to have the Tánaiste officiate at the formal opening."
