SIPTU welcomes Pfizer $130 million investment announcement

11th July

SIPTU welcomes Pfizer $130 million investment announcement

SIPTU has welcomed the announcement today (Thursday, 11th July) that Pfizer  Ireland Ltd intends to invest $130 million in new manufacturing and  research facilities in Ringaskiddy and Grangecastle in County Cork.

SIPTU Sector Organiser, Alan O’Leary, said: “This investment by Pfizer  Ireland Ltd is particularly important as the pharmaceutical industry is  currently undergoing a major transition away from big bulk manufactured  products towards lower volume produced drugs. Significant job cuts have  been experienced in the industry over recent years as a direct result of patent expiry and the associated drop in volumes.”

“SIPTU recently reached a ‘transformational restructuring agreement’ with  management of the Pfizer plant in Ringaskiddy to address some of these  challenges and we are confident this will further position the site to  compete more effectively for new products.”

Alan O’Leary  added: “Through the SIPTU Innovation in Manufacturing scheme we reached  an agreement with Pfizer to enhance our members’ roles and as a result we prevented a considerable number of planned job cuts. SIPTU places an  overriding priority on safeguarding and protection of manufacturing  jobs.

“It is in this context that the Pfizer decision to  invest in its Ringaskiddy and Grangecastle plants is exceptionally good  news for the entire industry. It shows that despite all the challenges  currently facing the pharmaceutical industry in Ireland one of the  globe’s largest manufacturers is showing real confidence in Irish  workers’ ability to deliver high quality goods.”

For further information contact:

SIPTU Sector Organiser, Alan O’Leary