Drugs giant Pfizer to create 200 jobs in Dublin
The announcement by Tánaiste Mary Harney and the IDA came as welcome news yesterday following the blow of 385 job losses at Square D in Ballinasloe and more than 160 at Microsoft in Dublin.
The Tánaiste said further IDA-supported jobs would be announced in other projects in the coming weeks.
“It is expected to create approximately 200 new jobs by the end of 2005 for people with qualifications in finance, accounting, IT and with multi-language skills,” Ms Harney said.
“This is the first IDA-supported investment announced in 2003 in what, I am optimistic, will be a strong first quarter for such investments.
“I base this on the high number of negotiations currently underway between IDA Ireland and some leading international companies regarding significant new investments which are expected to be finalised in the first quarter and which will have a real impact when they come through.
“In addition, the number of new investments secured by IDA in 2002 was up by two thirds on 2001 - 55 projects compared with 33.”
Ms Harney said that as a number of these had only recently been finalised, their announcement was expected in the coming weeks.
Pfizer’s new centre will be the financial hub for the company’s European operations, carrying out general accounting as well as purchase payments, travel transactions and treasury work.
It will operate separately from the company’s treasury centre and banking activities, which operate from the International Financial Services Centre in Dublin.
Director of the Pfizer European Financial Shared Services Centre Helmut Kasztner said the company conducted extensive research to identify the best location for this “crucial business function”.
“Ireland faced strong competition for this project but Dublin was chosen mainly because of its access to a broad base of skilled resources,” he said.
Project leader Frank Morra added: Pfizer had always had a very positive experience in Ireland, both in its pharmaceutical manufacturing activities and its finance, sales and marketing operations, and we believe that Ireland is once again ‘the place to be’ for our new European Financial Shared Services Centre.”
Pfizer currently employs 1,600 people in Cork and Dublin in the production of ingredients and top-selling pharmaceutical products such as Viagra, as well as in its treasury and banking operations.
Pfizer said 40% of this highly skilled workforce have a 3rd level qualification, an indication of the skills available here in Ireland.
The drugs firm has its headquarters in New York and is the sixth most valuable company in the world.
Pfizer claims that based on revenues it is the world’s largest pharmaceutical company.
It employs around 90,000 people worldwide.
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