Merck to create 370 new jobs following $470 Million investment in Cork
Category: #business  By Pankaj Singh   Date: 2022-05-24
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Merck to create 370 new jobs following $470 Million investment in Cork

Merck, a German multinational science and technology company, is planning an investment of around €440 million ($470 million) for expanding its facilities based in Cork and will be creating more than 370 novel jobs.

The statement made in one of the furthermost important sectors has been demonstrated as a major vote of confidence in the Irish economy.

According to Merck, it is planning to enlarge its membrane and filtration manufacturing facilities in Ireland. This investment will help increase capacity at the firm’s Carrigtwohill site and finance the construction of a new unit at Blarney Business Park.

The investment, which is said to be the largest in a single side ever for a life science business in the republic, will be building more than 370 permanent jobs by the end of 2027.

The company will be adding a manufacturing unit for the immersion casting of membranes in Carrigtwohill with more than €290 million ($309 million) in funding.

Merck said these membranes support new gene therapies and applications like virus sterilization, finger-prick rapid testing, and plasma separation.

Furthermore, Merck will also be investing around €150 million ($160 million) in a new filtration manufacturing facility located at Blarney Business Park. It will augment Merck’s global manufacturing capacity and supply customers with manufacturing both innovative and traditional treatments and therapeutics once completely operational.

The company also said that it aims to augment the group sales to around €25 billion ($26.7 billion) by 2025. To achieve this growth target, the firm has augmented its planned investment between 2021 and 2025.

Martin McAuliffe, MD and Head of Cork operations at Merck, stated that the decision made to construct a new membrane manufacturing unit in Carrigtwohill and the expansion of a new filtration manufacturing capability in Blarney is evidence of the hard work, capability, and dedication of all the colleagues here in Cork.

Source Credit - https://www.irishtimes.com/business/health-pharma/merck-announces-440m-investment-in-cork-creating-370-new-jobs-1.4885340

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