Abbott to invest €440m in Ireland, creating 1,000 new jobs between Kilkenny and Donegal
Abbott currently employs 5,000 people in Ireland and has facilities located in Clonmel, Cootehill, Dublin, Longford, Sligo and Galway.
US healthcare company Abbott will invest €440m in Ireland to expand its site in Donegal and develop a new manufacturing facility in Kilkenny.
The investment will create 1,000 new jobs between the two sites.
The new 250,000 sq ft manufacturing facility will be located on the IDA Business and Technology Park in Loughboy, Kilkenny, subject to planning approval.
The new site will allow the US multinational to significantly increase production "to meet demand for FreeStyle Libre technology for people with diabetes, which over the past five years has grown from 400,000 to more than 4 million users."
Abbott currently employs 5,000 people in Ireland and has facilities located in Clonmel, Cootehill, Dublin, Longford, Sligo and Galway.
Shares in Abbott were 0.53% higher at $111.08 (€108.28) at 1.39pm GMT.
In a statement, the company said: "Abbott has had a presence in Ireland for more than 75 years, and we’re proud to bring even more highly-skilled jobs to local communities."
The investment will allow Ireland to become a world leader in producing medical technology for those with diabetes.
“This new investment by Abbott in Donegal and Kilkenny is hugely welcome news, bringing up to 1,000 highly-skilled jobs and expanded Medtech manufacturing capacity," stated Taoiseach Micheal Martin.
Mary Buckley, executive director, IDA Ireland, said: “This significant and transformative investment in a new greenfield manufacturing facility in Kilkenny is fantastic news for the South East Region and for Ireland."
"It is also most welcome and demonstrates continued commitment to its Donegal site that it will benefit from further investment and new jobs as part of this investment and jobs announcement," she added.
American multinational medical devices and health care company first established operations in Ireland in 1946.
The project is supported by the Government through IDA Ireland.
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