Buyer is sought to save 570 jobs

by Gazette Reporter
0 comment

There is hope for the 570 jobs at risk in north Dublin after it was revealed that local pharmaceutical company MSD is actively seeking a successor.
The company had recently informed employees at its Swords facility of its proposed plan to cease operations at the site by the end of 2017. The closure would result in the loss of 570 jobs between now and the end of 2017.
The recent announcement of optimism comes after Fingal County Council held a meeting with MSD last week to discuss the future of the plant and its workers.
According to the council, the pharmaceutical company believes its highly-skilled workforce and the diversity of potential business processes that can be accommodated within the plant footprint, are major selling points which will attract interest from prospective buyers.
Management at MSD told the council that there are certain factors that are hoped to attract investment in the facility.
These factors include the facility’s strategic location and proximity to the national motorway network as well as to the airport and port tunnel. Its location places it in a prime position for accessing markets in Ireland or abroad, ensuring it will attract interest from a wide range of manufacturing and logistics-based firms.
The continuous investment put into modernising the plant in recent years has also succeeded in making it a very attractive facility.
Deputy Alan Farrell (FG) also held a meeting with a senior management at MSD last week, which was followed by a meeting with the IDA and the Minister for Jobs, Enterprise and Innovation, Richard Bruton.
“I met with representatives from the IDA and Minister Bruton to discuss what is being done to find a buyer for the plant,” he explained. “An international broker has been engaged and is tasked with sourcing a buyer for the Swords facility. We were advised that the broker is confident that a suitable buyer can be found as expressions of interest from potential investors have already been received,” he said.
Deputy Farrell indicated that MSD has invested in the region of €150 million in its Swords plant over the last 20 years, making it a state-of-the-art facility which could prove to be a very attractive site for a pharmaceutical company looking to establish itself in Ireland.
“I remain hopeful that a buyer can be found in the near future so that as many jobs as possible can be saved,” Deputy Farrell said.

Related Articles