Minister Martin announces three new investments for Midlands Region
A total of over 170 new jobs for Roscommon, Athlone and Longford
Minister for Enterprise, Trade and Employment, Micheál Martin T.D., today (Monday 29th November 2004) announced four new IDA Ireland supported investments which will be located in Roscommon, Athlone and Longford. A total of over 170 new high calibre jobs will be created in a range of new knowledge-intensive and skill-based activities at three new facilities and the expansion of an existing operation.
Minister Martin said “the diverse nature of these investments and their locational spread is a further endorsement of Ireland’s ability to attract leading-edge high-value investments across a range of sectors and to provide the calibre of people and infrastructure required to support such activities at regional locations.”
Innocoll Inc, of the US, a privately-owned specialty pharmaceutical company, is establishing two facilities. In Roscommon Town, it is investing ¤6 million in the establishment of a knowledge-intensive worldwide R&D and Manufacturing Centre for specific products, which will create up to 60 jobs over four years. In Athlone, it is to establish its European Sales and Marketing Headquarters, which will create up to 16 jobs over two years. 70% of the total jobs will require third-level qualifications.
Conor Medsystems, Inc, of the US, a developer of innovative controlled vascular drug delivery technologies, is to invest over ¤1 million for the establishment of a Centre in Athlone. It will manufacture and distribute drug eluting coronary stent products and expects to create up to 40 jobs over three years, 50% will require third-level qualifications.
Cooper Cameron Corporation, of the US, one of the world’s leading manufacturers of products for the global oil and gas exploration industries,in a strategic expansion at its Longford facility, will establish it as a global centre-of-excellence for certain technologically advanced products, which could create 57 jobs over five years.
Note for Editors
Innocoll Inc
Innocoll Inc is establishing two new facilities in Roscommon Town and in Athlone, Co. Westmeath. “These are important additions to Ireland’s healthcare sector. At Roscommon the R&D team will promote interaction with third level institutions and all new Intellectual Property (IP) developed will reside in Ireland,” said Minister Martin.
In Roscommon Town, Innocoll’s new Centre at the IDA Business Park will be the company’s primary R&D and Manufacturing Centre worldwide for all current and future drug delivery products based on collagen. The new jobs will be in high level R&D, engineering, management, quality and manufacturing. It will provide the company with extensive R&D capacity, clean-rooms and manufacturing capabilities at both laboratory and commercial scale.
In Athlone, the Headquarters, located at the IDA Business & Technology Park, will market and sell products developed by the Roscommon operation and through product acquisitions which have an overall fit with Innocoll’s core product portfolio. The new jobs will be in sales, finance and logistics.
Mr. Michael Myers Ph.D, President & CEO of Innocoll Inc., said “Expanding our operations into two distinct business divisions represents yet another significant milestone in the transition of Innocoll from a contract manufacturing organisation to a fully integrated specialty pharmaceutical company. We hope to recognise significant advantages by establishing both divisions in Ireland. We will have the capacity to rapidly develop, commercialise, and market our exciting product pipeline and the close proximity to several major research centres will provide Innocoll with valuable access to technical and academic resources.”
Innocoll Inc is engaged in the research, development and commercial supply of innovative products for the treatment of pain and infection. Its lead product, Collatamp® G, is an implantable, antibiotic-containing collagen sponge for the treatment and prevention of hard and soft tissue infections. The sponge is surgically implanted, gradually delivering a predetermined dosage of antibiotic over a 2-4 day period. The sponge is fully resorbed by the body, and has the added benefit of the healing properties of collagen. Collatamp G is also being developed by Innocoll for the treatment of diabetic and infected leg ulcers. Both Collatamp G and Innocoll’s pipeline products are based on its proprietary drug delivery technology CollaRx™.
Conor Medsystems, Inc
Conor Medsystems, Inc, isestablishing its Centre in an existing privately developed 27,000 sq. ft. facility, which will house a clean-room, laboratory and offices, at the IDA Ireland Business & Technology Park, Athlone, Co. Westmeath. It will manufacture and distribute the company’s drug eluting coronary stent products used for the treatment of coronary artery disease. It will employ highly skilled technicians and engineers, as well as people with management and logistics experience.
Minister Martin said “Ireland has proven to be a successful location for many of the major players in the drug delivery sector. Conor Medsystems chose to locate in Athlone having learned of the positive experiences of these companies following a number of visits to the Midland Region. Conor Medsystems is in line with IDA’s strategy of attracting companies earlier in their life cycle than would be the norm, thereby establishing the company in Ireland at an early stage in its development.”
Additional information on Conor Medsystems is available on www.conormed.com
Cooper Cameron Corporation
Cooper Cameron Corporation’s strategic investment in its Longford facility,Cameron Ireland Limited, will realise significant benefits for the Irish operation. As the global centre-of-excellence for products such as choke valves and actuators, it will be responsible for the procurement of strategic materials and will be the Engineering Leader for these products. In addition, the production of existing products will be expanded by up to 20% and new products will be added. The new jobs will be in engineering, production, quality, purchasing, sales, marketing and manufacturing.
Minister Martin said, “this expansion is a strong endorsement of the Irish company. It will increase its strategic role in its parent’s worldwide business and will further consolidating the operation in Longford.”
Cameron Ireland, established in 1977, is a world leader in the production of choke valves for exploration companies worldwide and is now the largest producer of these products within its parent Corporation. It provides high-calibre employment for 140 people in Longford. Its products are manufactured to the highest international engineering and safety standards, as they are used in very hostile environments and under extreme operating conditions.
Mr. Robert Walker, Plant Manager, Cameron Ireland, said, “We are delighted with this investment and I thank my management team and workforce for their commitment in making this a productive and flexible facility which has met all its targets, and which delivers with the responsiveness and quality required in our business. This was the major influence in our being chosen for this strategic investment.”
Cooper Cameron Corporation of Houston, Texas, has technological leadership in its business for certain of its products. It was formed in 1995 and serves the oil and gas industries in over 100 countries, including virtually every major petroleum producing area in the world. It has 7,000 employees, with manufacturing plants and service centres at more than twenty locations across the world. It has annual revenues of around $1.5 billion, with a net income of $60 million and is listed on the New York Stock Exchange.
ENDS/ETE 1289
Last modified: 29/11/2004
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