A major expansion by a US-owned County Antrim pharmaceutical company will create 86 jobs, it was announced today.
Colorado company Gambro BCT is spending £7 million (€10.5m) over the next three years expanding the Ivex Pharmaceuticals business it acquired in Larne 13 months ago.
The investment is backed by Invest Northern Ireland - the province's economic development agency - and will enhance Gambro NI's research and development and its operational capabilities.
The expansion will position the company to exploit new market and product opportunities while continuing to trade under the Ivex name, said Invest NI. The investment was announced by Leslie Morrison, chief executive of Invest NI which is contributing £840,000 to the project.
He said that by 2007 the investment would be contributing about #2 million a year in additional salaries and wages to the local economy.
“This is great news for Ivex and for the Larne area,” he said. Ivex specialises in sterile solutions for pharmaceutical and medical companies and expects to double its sales in the sector over the next three years, he said.
“The investment positions the company for strong growth in the burgeoning international healthcare sector and in particular will equip it to deliver a crucial capability in respect to Gambro BCT's exciting new automated whole blood processing technology,” said Mr Morrison.
He said the investment was another example of the confidence that international companies had in Northern Ireland .
“Increasingly we are seeking this kind of strategic investment by companies that have recognised the quality, reliability and capability of the Northern Ireland workforce and the willingness and flexibility of innovative local management,” he added.
Gary Heath, vice-president operations at Gambro, said the Larne facility was well regarded within the group and it was testament to its well-deserved reputation that it had decided to continue to trade under the Ivex name.