One of the great Irish stories to come out of this year’s Mobile World Congress in Barcelona is Irish personalised learning company Fishtree raising US$3m in a funding round that will enable it to create 25 new jobs.
Dublin: 03.03.2015 08.19PM
GlaxoSmithKline’s Stiefel plant in Sligo was originally scheduled to close next year, but a turnaround from GSK on the back of an in-depth strategic review means the plant will stay open and future jobs growth is expected.
Through a €10m investment supported by IDA Ireland, the Sligo plant will become a dedicated Stiefel consumer products supply site and home of its liquid bottling operation. In time, the site will become a development centre for products such as Physiogel, Oilatum, Stieprox and Driclor.
The investment will be used to upgrade the site’s technical competencies and develop its potential. Staff were informed of these plans at a meeting this morning, attended by Ireland's Minister for Jobs, Enterprise and Innovation, Richard Bruton, TD.
“Today’s announcement is the culmination of many years of hard work by the entire team,” said site director Pat McLoughlin. “The workforce has shown tremendous effort, commitment and flexibility through a difficult period, increasing productivity by 40pc in the last three years. This has been a key factor in the decision to choose Sligo for future development.”
The Stiefel site in Sligo currently employs 180 people but this number will be reduced to 120 over the next two years as the site drops pharmaceutical production to focus on skin healthcare products. The team is currently going through a redundancy programme, which will continue primarily on a voluntary basis in the short to medium-term.
It is hoped the company will move to a position of employment growth in 2014, with an additional 50 jobs predicted at this point.
Other GSK sites currently supporting Stiefel consumer products will be unaffected by this decision.