Renishaw announces R&D investment at its Swords facility
Diversification of facility adds 60 high value-added positions
Tánaiste and Minister for Enterprise, Trade and Employment, Mary Coughlan TD, announced today (Monday 1st December 2008) that Renishaw is to expand its Swords facility by establishing a new R&D function to research and develop expertise in the treatment of neurological disease. With the support of IDA Ireland, the expansion will create 17 R&D positions and 43 manufacturing positions over the next three years.
In 2006, Renishaw Ireland celebrated its 25th year in Ireland. Established in 1981 to manufacture a limited range of small touch trigger probes, the Irish facility has developed in size and capability since. More recently it has been gearing itself up to take on development and production for a range of products from the company’s healthcare portfolio while continuing to manufacture industrial metrology equipment.
Renishaw plc is expanding its Swords facility by establishing a new R&D function to provide research and development on a range of devices for targeted delivery of therapeutics into the brain for the treatment of a range of neurological diseases. This is a major development in Renishaw Irelands history. To reflect the importance of Ireland in the company’s neurological activities Mat Stratton, General Manager of Renishaw’s Neurological Products Division has been appointed to Renishaw Ireland’s board.
Making the announcement, Tánaiste Coughlan said: “This investment involves cutting-edge development and high-end manufacturing in a new area for the company and makes the Irish operation of greater strategic importance to the Parent. This decision by Renishaw, means Swords will now be at the core of the company’s future R&D strategy in novel medical devices.”
Speaking at today’s announcement Geoff McFarland, Renishaw’s Group Engineering Director said: “We are very pleased with our decision to locate this strategically important part of our business here in Swords. We know that Ireland can provide the highly skilled personnel we are looking for and the pro-business environment we have experienced to date allows us to operate efficiently and effectively from here. The Irish operation should be proud as this is an extremely promising sector for our company which is strategically important for our business and given the performance of the Irish operation we are confident of its future success.”
ENDS/ETE1979
Notes for Editors:
About Renishaw plc
One of the world's leading engineering technology companies, Renishaw, based in the UK, specialises in the design, manufacture and sale of precision metrology and inspection equipment, which is sold to a broad range of industrial sectors. Renishaw plc has been honoured with twelve Queen’s Awards to date, recognising Technological Achievement, Export Achievement and, most recently in April 2007, for Enterprise in the Innovations category.
In the year to 30th June 2008, Renishaw generated revenue of £201.2 million, of which in excess of 90 per cent was to overseas customers, and profit before tax of £41.7 million. The Renishaw Group currently has more than 50 locations in 30 countries, with over 2,200 employees.
Last modified: 01/12/2008
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