Minister confident of Pfizer plant buyouts

THE Government is confident buyers can be found for the two Pfizer plants which are scheduled to close under new consolidation plans announced by the company this week.

Up to 785 people are set to lose their jobs after the pharmaceutical giant announced a major restructuring of its manufacturing business.

Speaking on RTÉ radio yesterday morning, Minister for Enterprise, Trade and Innovation Batt O’Keeffe said the Government was hopeful buyers could be found for the two plants here. “The jobs are going to be lost over a phased basis right up to 2014. That gives the opportunity for the IDA, and they are already working on it in relation to the two plants that will be up for sale, to try and find some buyer who will be fit for purpose.

“Pfizer’s have already been successful in relation to a plant in Sligo where Elanco have taken over. We remain confident that we can find a buyer fit for purpose for on or both of these plants,” he said. The job losses come as part of Pfizer’s restructuring plans which will see it close eight plants around the world, including three in Ireland. Operations are to be reduced in six other plants, including Newbridge in Kildare, where some 275 jobs are to be lost in the next four years.

The pharmaceutical giant is to close its plants in Dún Laoghaire in Dublin and in Shanbally in Cork. These plants are to be put up for sale. Mr O’Keeffe stressed there was a high level of confidence within the IDA that it could deliver a substantial amount of jobs in the next two years. “There is a confidence within the IDA that they can deliver quite substantially over the next two years. Our projections for next year in terms of jobs is of the order of 20,000 new jobs and 45,000 jobs year-on-year after that,” he said.

Fine Gael MEP Seán Kelly urged the Government to make an application under the European Globalisation Fund for the workers of the Pfizer plants who are to lose their jobs. “The sooner an application is granted the sooner these workers can retrain and re-skill themselves to get back into the employment market. Seven hundred and eighty-five people and their families will be affected by this announcement and they require every support possible to find new employment,” he said.

The decision to cut jobs in Ireland is mainly due to its $68 billion acquisition of former rival Wyeth last October. The deal meant that a number of its plants operating in different parts of the world were offering duplicate services.

The first jobs are to be lost towards the end of the year in Newbridge with the remainder being phased out up until 2014. Operations in the company’s two Cork plants will cease in 2012 and 2013 while jobs in the Dún Laoghaire plant will be phased out from the end of 2011 to 2014.