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Released September 17, 2018 | GALWAY, IRELAND
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Written by Martin Lynch, European News Editor for Industrial Info (Galway, Ireland)--Pharmaceutical company Chanelle Medical Limited (Galway, Ireland) is to create 350 jobs at its newly opened manufacturing plant at its headquarters in Loughrea, County Galway, Ireland.
The company is the largest Irish-owned manufacturer of generic pharmaceutical products in Ireland, employing more than 500 people at present, with the goal of boosting that figure to 850 over the next five years. It specialises in the development, production, marketing and distribution of generic animal pharmaceutical products, including the popular Spot On product used to protect dogs and cats against harmful parasites. The new 30,000-square-foot facility is Europe's first dedicated Spot On manufacturing plant built to European and U.S. quality standards, the company stated. Industrial Info tracked the $79 million project and is tracking future projects at the plant.
"Since 2016 we have invested over 55 million euro ($63.7 million) and created 175 new jobs in our global headquarters in Loughrea," said Michael Burke, owner and managing director of Chanelle Group. "Over the next five years, we will increase the pace of our investment programme, investing 86 million euro ($99.5 million) in our operations and creating 350 new jobs, bringing total employment to over 850 people. As part of this programme, we will invest 11 million euro ($12.7 million) in a new facility for the manufacture of liquid and paste products, which will also be designed and built to European and U.S. quality standards. Construction will begin in October 2019 and the products manufactured will be for the U.S. market."
Attending the opening and welcoming the news of additional investment Ireland's Tánaiste and Minister for Foreign Affairs and Trade Simon Coveney said: "Chanelle Group is one of Ireland's leading exporters in the manufacture of veterinary and human pharmaceuticals, trading with over 90 countries worldwide. The company's pioneering approach to product innovation has been a key factor in the company's substantial growth in recent years. With over 96 products in its R&D [research & development] pipeline, Chanelle is well positioned to continue to expand into new markets. The investment announced today is the largest by owner Michael Burke in the history of the company, and through Enterprise Ireland, the government is pleased to support Michael as he grows Chanelle Group and creates valuable employment here in Loughrea."
Additional money will be made available for boosting R&D. "Research and Development is critical to our success," Burke explained. "We've doubled turnover in the last five years, and expect to double turnover again within the next five years. This growth has been driven by our focus on R&D and I remain firmly focused on innovation. We will invest more than 45 million euro ($52 million) in R&D over the next five years in our five research laboratories operating in Ireland and the Middle East. We develop 15 to 20 new products every year; this level of innovation is unheard of in many larger multinational companies."
The new Spot On manufacturing facility is designed to help Chanelle grow its share of the global market in anti-parasitic health products for small animals, which is expected to reach a value of $2.28 billion by 2026. The company has agreed Spot On manufacturing contracts in excess of 20 million euro ($23 million) with animal health companies in the E.U., Asia, the Middle East and the U.S.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Our European headquarters are located in Galway, Ireland. Follow IIR Europe on: Facebook - Twitter - LinkedIn For more information on our European coverage send inquiries to info@industrialinfo.eu or visit us online at Industrial Info Europe.
The company is the largest Irish-owned manufacturer of generic pharmaceutical products in Ireland, employing more than 500 people at present, with the goal of boosting that figure to 850 over the next five years. It specialises in the development, production, marketing and distribution of generic animal pharmaceutical products, including the popular Spot On product used to protect dogs and cats against harmful parasites. The new 30,000-square-foot facility is Europe's first dedicated Spot On manufacturing plant built to European and U.S. quality standards, the company stated. Industrial Info tracked the $79 million project and is tracking future projects at the plant.
"Since 2016 we have invested over 55 million euro ($63.7 million) and created 175 new jobs in our global headquarters in Loughrea," said Michael Burke, owner and managing director of Chanelle Group. "Over the next five years, we will increase the pace of our investment programme, investing 86 million euro ($99.5 million) in our operations and creating 350 new jobs, bringing total employment to over 850 people. As part of this programme, we will invest 11 million euro ($12.7 million) in a new facility for the manufacture of liquid and paste products, which will also be designed and built to European and U.S. quality standards. Construction will begin in October 2019 and the products manufactured will be for the U.S. market."
Attending the opening and welcoming the news of additional investment Ireland's Tánaiste and Minister for Foreign Affairs and Trade Simon Coveney said: "Chanelle Group is one of Ireland's leading exporters in the manufacture of veterinary and human pharmaceuticals, trading with over 90 countries worldwide. The company's pioneering approach to product innovation has been a key factor in the company's substantial growth in recent years. With over 96 products in its R&D [research & development] pipeline, Chanelle is well positioned to continue to expand into new markets. The investment announced today is the largest by owner Michael Burke in the history of the company, and through Enterprise Ireland, the government is pleased to support Michael as he grows Chanelle Group and creates valuable employment here in Loughrea."
Additional money will be made available for boosting R&D. "Research and Development is critical to our success," Burke explained. "We've doubled turnover in the last five years, and expect to double turnover again within the next five years. This growth has been driven by our focus on R&D and I remain firmly focused on innovation. We will invest more than 45 million euro ($52 million) in R&D over the next five years in our five research laboratories operating in Ireland and the Middle East. We develop 15 to 20 new products every year; this level of innovation is unheard of in many larger multinational companies."
The new Spot On manufacturing facility is designed to help Chanelle grow its share of the global market in anti-parasitic health products for small animals, which is expected to reach a value of $2.28 billion by 2026. The company has agreed Spot On manufacturing contracts in excess of 20 million euro ($23 million) with animal health companies in the E.U., Asia, the Middle East and the U.S.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Our European headquarters are located in Galway, Ireland. Follow IIR Europe on: Facebook - Twitter - LinkedIn For more information on our European coverage send inquiries to info@industrialinfo.eu or visit us online at Industrial Info Europe.
