UP TO 150 jobs could be lost following the sale by Pfizer of its Loughbeg site in Cork to a Portuguese pharmaceutical company.
The deal is due to be completed by early April and will see 70-80 of the existing 232 staff transfer to the new owners, Hovione.
Pfizer said in a statement yesterday it was unclear exactly how many redundancies would be required due to the possibility of staff transfers but said there will be redundancies.
Pfizer, which employs 2,300 people in Ireland, announced in February 2007 that it was closing its Ringaskiddy plant and putting its Little Island and Loughbeg plants up for sale following a global review of its operations.
Hovione, which specialises in the manufacture of active pharmaceutical ingredients (API), will acquire the Loughbeg facility in April of next year. The announcement follows an extensive sales effort over the past 20 months which included numerous site visits.
Cork Fine Gael South Central Deputy Simon Coveney described the job losses as "devastating" for the city and county: "There is never a good time to hear that your job is lost but the fact that this confirmation comes with just two weeks to Christmas makes it even more devastating for the workers in Ringaskiddy." He commended Pfizer for completing the sale.
Minister for Foreign Affairs Micheál Martin said the cuts were sad news for employees and their families: "Ensuring these workers are given every support during the handover of the plant must now be a top priority."
Paul Duffy, Pfizer's vice-president of manufacturing for Ireland and Singapore, said: "We have worked determinedly over the past 20 months to sell the Loughbeg API plant in order that our colleagues would be able to continue working here."
Mr Duffy said the company had been successful in preserving 70-80 positions but would have had go down the route of seeking voluntary redundancies and then ultimately enforced redundancies.
Hovione's services include RD support and commercial manufacturing. Over the next 24 months, it will be increasing the product range on the site and validating processes for new compounds in expectation of drug approval.
