Firm’s €119m investment brings jobs hope to North

A Northern Ireland pharmaceutical company today announced an investment of £83m (€119m) which could create almost 300 new jobs.

Norbrook makes veterinary pharmaceutical products at its Newry, Co Down, plant and exports them around the world.

The company said the major investment could create up to 293 new jobs - including high calibre research posts.

The £83m investment will allow it to develop a number of new and unique veterinary products which will allow it to move further into the pet medicine market.

The company also plans to increase its manufacture of active pharmaceutical ingredients and develop new manufacturing and formulation methods which, it said, would enable it to retain its competitive advantage.

The jobs boost was announced as nearly 1,000 workers at Co Derry-based US technology company Seagate were being told their redundancy terms following the announcement yesterday that their plant is closing next summer and the work transferred to Malaysia.

Norbrook currently employs 1,500 people at Newry and Monaghan, has manufacturing facilities on four continents and exports to more than 120 countries around the world.

Announcing the investment during a visit to the company, the North's Economy Minister Nigel Dodds said: “It is a great achievement that this major investment, which could have gone outside Northern Ireland, has been secured by Invest NI. Norbrook is one of our most successful indigenous companies and has an impressive record of growth.

“Norbrook’s ongoing investment in research and development is a key factor in its success and undoubtedly the quality and availability of graduates in Northern Ireland has influenced the company’s decision to invest further here.

“An investment of this scale will deliver significant benefits, not just for the company and for the pharmaceutical sector, but for the economy as a whole.

“It is particularly welcome in the context of the job losses that will happen in the second half of next year in Limavady.”

Invest NI, the business development agency for the North, has offered support of just over £3m (€4.3m) towards the expansion.

Mr Dodds reinforced his commitment to build a strong and stable economy in Northern Ireland following last week’s announcement of the power-sharing Executive’s Programme for Government .

He said: “Over the past number of months I have met with many business leaders and listened to their concerns. I have also worked closely with my Executive colleagues to ensure the economy was made the top priority in our programme for Government.”

As a result, he said, his department had been given a good budget and had set some challenging targets over the next three years.

In particular there was a need to increase productivity and boost employment levels through foreign direct investment and increased exports, said the minister.

“Today’s major investment announcement by Norbrook, is testimony to the huge potential for economic growth in the North.

“I will seek to ensure continued and targeted investment in skills, enterprise, innovation and economic infrastructure to enable us to attract and secure further quality investment on which we can build our economy, said Mr Dodds.

Norbrook’s Executive Chairman, Lord Ballyedmond, said: “Norbrook has built its reputation in the large animal market, particularly cattle, and while retaining a focus on this we are now keen to develop a bigger presence in the pet market.

“Our goal is to establish a centre of R&D excellence and to continue to develop patented products that will outperform our competitors.”