€ 16.5m project to create 400 jobs in Waterford

Tanaiste announces establishment of Nypro Waterford Ltd.

Mary Harney, Tánaiste and Minister for Enterprise, Trade and Employment today (Monday September 24th 2001) officially announced the establishment of Nypro Waterford Ltd, a new company located at Waterford Industrial Estate. The €16.5million (£13million) project with support from Enterprise Ireland will lead to the creation of 400 jobs over the next 4 years. Nypro Waterford Ltd's main business will be high-volume, highly automated assembly of electromechanical components and is a sister company of Nypro Ltd, Bray, the largest injection moulder in Ireland.

Making the announcement the Tánaiste said, "the establishment of Nypro Waterford Ltd at Waterford Industrial Estate is a tremendous boost not just for the city, but for the South East region as a whole. While the creation of 400 good quality job opportunities in a modern industry environment itself is significant, it will also provide further spin-off benefits for local service industries.

Commenting further the Tánaiste said, "today's announcement represents tangible evidence of the success of Enterprise Ireland's regional development strategy. Following detailed analysis on behalf of the company, Waterford was selected based on the availability of a skilled workforce and suitable facility for the company. The project also represents considerable opportunity for further growth".

Pat Holohan, General Manager of Nypro Waterford commented that he was extremely satisfied with the calibre of the team recruited to date and that the company offered the opportunity to work with state of the art automation in a high class facility. The company were very pleased with the quality of the infrastructure and services in the Waterford area. Gerry Murphy, Enterprise Ireland Director of Industrial Products and Europe said "the establishment of this facility in Waterford is a vote of confidence in the city and indeed the region. Nypro has recognised the many benefits available to companies locating in this region, including a highly educated and flexible workforce".

The new building, which has a rigidly controlled clean room environment, is one of several dedicated contract manufacturing facilities being constructed around the world by Nypro Inc. The new facility is part of Nypro's strategy to better serve global customers throughout the European area.

Nypro has over 8000 employees and 1000 injection molding machines at 27 plant sites in 12 countries around the world including Ireland, Wales, France, Germany, and Hungary. Annualized sales are about $800 million.