Healthcare firm to create 500 jobs in Cork project
General Electric subsidiary GE Healthcare is to ship in four pre-fab factories as part of a €150m (£128.6m) project that could create 500 new manufacturing jobs in the Republic.
The investment is to fund the construction of the GE BioPark in Ringaskiddy in Cork, which will house four KUBio facilities, the first of their kind in the EU.
The KUBio facilities will be sold by GE to pharma companies that have completed multiple clinical trials with a drug ready or nearly ready to go to market.
General Electric owns energy technology company Kelman in Lisburn.
Last week the American industrial giant announced it had secured a $2bn contract to manufacture steam turbines for the construction of the UK's Hinkley Point C nuclear power station.
But its workforce in Lisburn is not expected to be involved in the Hinkley Point deal.
GE intends to hire around 100 employees in manufacturing, engineering and quality for its Cork project, and will begin recruitment at the start of next year.
GE Healthcare Life Sciences chief executive Kieran Murphy said the company was "delighted" to be investing in Ireland again.
Mr Murphy said: "Pharma companies worldwide are racing to respond to patient needs with new life-changing biological medicines, and GE is investing in technology and service solutions, as well as industry skills and expertise, to enable them to make and get their products to market more quickly."
The firm employs around 600 people in Ireland, mostly at its existing base in Cork.
The company also announced plans to set up training collaboration with the Republic's National Institute for Bioprocessing Research and Training to help develop skills for Ireland's biologics sector.