Tánaiste Announces major new Food Investment for Dundalk, Co Louth

Dundalk selected as European Manufacturing Headquarters by Leading Australian Company

The Tánaiste and Minister for Enterprise, Trade and Employment Mary Coughlan, TD, announced today (Wednesday 3 March 2010) that leading Australian healthcare company Probiotec Limited is to establish its European manufacturing headquarters in Dundalk, Co Louth where it will produce its range of weight management and other food products. This investment is expected to create 70 new jobs and generate sales of over €30m over the next three years. The facility will be the strategic production centre for Probiotec to drive their continued growth in the European market. It is a highly significant investment for Probiotec and reaffirms Ireland’s reputation for excellence in the food ingredient sector and as a primary location of choice for international food companies.

The Dundalk operation will enable Probiotec to manufacture in Ireland its range of dietary/meal replacement products, branded as Celebrity Slim, for the European market. Since their launch in the Irish and UK markets in 2007 these products have achieved significant growth levels. Now Probiotec, with the support of the Government through Enterprise Ireland, is setting up a dedicated European production facility in Dundalk to exploit the strong potential in the wider European market and build on its proven success in Ireland and the UK.

Making the announcement the Tánaiste said: “On behalf of the Government, I am delighted to announce the decision by Probiotec to locate its European manufacturing base in Ireland. This investment, and the creation of 70 new jobs, is significant not just for Probiotec, but for Dundalk and the Border region. It is also highly significant for the food sector in Ireland, which employs over 46,000 people and contributes over €8bn in exports to the economy.  This project will also add significant value to locally sourced raw materials, particularly dairy ingredients.

“It also says a lot about the very high regard for the Irish food sector across the globe. Probiotec is a leading Australian company with major expansion plans for the European market. It has chosen Ireland as the base from which to spearhead this strategic drive, confirming once again that Ireland and its food sector are seen internationally as offering a very attractive and highly competitive base for business. I want to welcome Probiotec to Ireland and to Dundalk, and the Government looks forward to working with them in developing their Irish operation into the future.”

Wayne Stringer, CEO of Probiotec Limited commented:

“This project establishing our European manufacturing base in Dundalk is a highly strategic investment for Probiotec and demonstrates our commitment to our international expansion goals. We see the wider European market as offering serious potential for our products, and Dundalk as offering us the optimum base from which to realise our growth ambitions to become a leading international provider of branded weight management and other speciality food products in this market. Our decision to locate Probiotec in Dundalk was based on Ireland’s unrivalled reputation as a world leading centre for food ingredients excellence, the availability of excellent raw materials and top class infrastructure. We plan to move fast, start recruitment in early 2010, and be shipping from Dundalk by mid 2010. This is a very exciting and challenging time for our company, and we are delighted to have Enterprise Ireland’s support.”

Welcoming the announcement, Frank Ryan, CEO of Enterprise Ireland, said: “I am delighted to welcome Probiotec to Ireland and to Dundalk and to acknowledge their decision to choose Ireland as their base for spearheading their strategic drive into new European markets. This project underpins the Government’s and Enterprise Ireland’s strategy for the food sector and building export focussed innovative companies capable of achieving significant global reach. EI works with all the stakeholders in the food industry to support its position in the Irish economy as a leading contributor to export growth and job creation. We welcome Probiotec to the family of food companies that are already operating so successfully out of Ireland. They are a leader in their field, have demonstrated a very strong capability to develop innovative products that meet market demand and have achieved rapid growth in their target export markets in a very short time frame. This is a really significant investment for the food sector in Ireland and we look forward to working with Probiotec and supporting their new venture in Europe.”

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About Probiotec

Established in Australia in 1997, Probiotec Limited is a leading Australian manufacturer, marketer and distributor of a high quality range of prescription and over the counter pharmaceuticals, complementary medicines weight management products and speciality ingredients. The group has five main manufacturing locations in Australia and employs approximately 350 people. It is listed on the Australian Stock Exchange. In recent years the company has placed particular focus on growing its own-developed range of slimming aid / meal replacement products. Further information is available on http://www.probiotec.com.au/ .

Following the successful launch of the product range in Ireland and the UK in 2007, Probiotec will now focus on Europe as a major target market. It is planned that all product for Europe will now be produced at the new manufacturing base in Dundalk, Co Louth.

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