This article is from page 62 of the 2007-09-25 edition of The Clare People. OCR mistakes are to be expected so download the original SWF or the rendered page 62 JPG
MINISTER for Enterprise, Trade and Employment, Micheal Martin TD has announced a €/million R and D investment by UCB Schwarz Pharma, supported by Shannon De- velopment.
The announcement took place dur- ing a visit by the Minister to anumber of companies located in the Shannon Free Zone. The Free Zone has more than 7,200 people employed in 110
companies generating over €3.3 bil- lion in annual sales.
During the visit Minister Martin was briefed at the UCB Schwarz Pharma plant on the capital invest- ment the company is making in 2007.
Total investment volume by the company is expected to be in excess of €100 million.
The company is currently rede- veloping a manufacturing plant on its site to manufacture a new drug
which they have recently developed. The investment also includes a major upgrade in facilities and infrastruc- ture.
Minister Martin said “This is pre- cisely the sort of activity and invest- ment that will secure Ireland’s pros- perity into the future.
It is through bringing innovation and our creative intelligence to in- dustry that Ireland will mark out its ground and gain competitive advan- eee
Welcoming Minister Martin to the Shannon Free Zone, Mr Kevin Thompstone, Chief Executive, Shan- non Development, said, “The Free Zone continues to be a location of choice for global businesses across a variety of industries. Shannon De- velopment is currently preparing a comprehensive master plan for a ma- jor regeneration programme at the Free Zone to guarantee its continued competitive edge into the future”.
Minister Martin’s visit to the Shan-
non Free Zone also included visits to aircraft leasing company, Genesis Lease; financial securities company, Genworth Financial; and. underwear manufacturer, Maidenform Interna- nlOyerNe
Speaking at the official opening of their new offices by Minister Mar- tin, Chairman and CEO of Genesis Lease, Mr John McMahon, said ‘We are grateful to Minister Micheal Martin for officially opening our new offices.