Company faces major challenge in selling plants

PFIZER has admitted it faces a tough task to sell off the three plants which it yesterday announced it was closing with a combined loss of more than 500 jobs.

As well as downsizing a number of other facilities, Pfizer wants to stop operating in eight of its sites globally by the end of 2015 and those include Loughbeg and Shanbally in Cork and its manufacturing facility in Dún Laoghaire.

Yesterday the head of its Irish operations, Dr Paul Duffy, was asked how feasible it was to find a buyer for the three Irish plants.