The Minister for Jobs, Enterprise and Innovation Richard Bruton TD today announced that Bausch+ Lomb, a leading global eye health company, plans to invest €75M in extra manufacturing capacity at its Waterford facility.
With the expansion of the facility 150 construction jobs will also be created. The investment, supported by the Department of Jobs, Enterprise & Innovation through IDA Ireland, is expected to generate 125 new jobs by the end of 2017 and will provide the Waterford facility with capacity to meet expected demand for its Biotrue ONEday range of contact lenses.
The company has made contact lenses and other products at the site for 35 years.
The investment will further strengthen the Waterford plant’s position in supporting Bausch + Lomb’s efforts in increasing market share in the contact lens market and follows a similar announcement in November 2014 that €41M was being invested, creating 50 new jobs.
Bausch + Lomb, a Valeant Pharmaceuticals International, Inc company, plans to add 112,000 sq ft of new building on a 17-acre site adjacent to its current facility. Planning permission has been granted for the development.
Work on this phase of investment is underway at present. The company currently employs 1,000 people at its Waterford facility.
“IDA Ireland is fighting for investment in a fiercely competitive international environment. Today’s expansion is a good example of how IDA can work with companies to communicate the strengths of Waterford and the wider southeast region. The medical devices sector in Ireland continues to expand – we will be targeting more investment in this sector in the coming months. “
Martin Shanahan, CEO, IDA
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