Chanelle gal­lops ahead with €86m in­vest­ment

Belfast Telegraph - Business Telegraph - - Front Page - BY EL­LIE DON­NELLY

Co­Gal­way-based pharma com­pany, owned by sir tonym­c­coy’ s wife and fa­ther-in-law, goes from strength to strength as it cre­ates 350 new posts

A PHAR­MA­CEU­TI­CAL com­pany in Co Gal­way owned by the wife and fa­ther-in-law of for­mer cham­pion jockey Sir Tony Mccoy has added 350 jobs to its 500-strong work­force.

The roles at the Ir­ish-owned com­pany, which man­u­fac­tures phar­ma­ceu­ti­cal prod­ucts at its base in Loughrea, will be cre­ated over the next five years, and form part of an €86m in­vest­ment.

This in­vest­ment, fi­nanced by com­pany funds, is be­ing split on both cap­i­tal ex­pen­di­ture of €40m and R&D spend of €46m.

Michael Burke, owner and man­ag­ing di­rec­tor of Chanelle — and fa­ther of Sir Tony’s wife Chanelle — said: “Since 2016 we have in­vested over €55m and cre­ated 175 new jobs in our global head­quar­ters in Loughrea.

“Over the next five years we will in­crease the pace of our in­vest­ment pro­gramme.”

Julie Sin­na­mon, chief ex­ec­u­tive of eco­nomic de­vel­op­ment agency, En­ter­prise Ire­land, said the in­vest­ment is its big­gest an­nounce­ment for this year.

“We have a re­ally close re­la­tion­ship with the group from when it started with two peo­ple in 1985,” Ms Sin­na­mon said.

“En­ter­prise Ire­land helps the com­pany through both our over­seas net­work, as well as sup­port­ing the com­pany with its big R&D spend.”

“To­day the group is spend­ing €6m a year on R&D.”

The jobs were an­nounced as the group opened a new €10m man­u­fac­tur­ing plant at its Loughrea base.

The new 30,000 sq ft fa­cil­ity is Europe’s first ded­i­cated Spot On man­u­fac­tur­ing plant built to Euro­pean and US qual­ity stan­dards.

Spot On is a top­i­cal treat­ment used glob­ally to pro­tect dogs and cats against harm­ful par­a­sites. Chanelle also an­nounced de­tails of the next phase of its cap­i­tal in­vest­ment pro­gramme, which will see con­struc­tion com­mence in 2019 on a 25,000 sq ft man­u­fac­tur­ing fa­cil­ity for medic­i­nal prod­ucts for the US mar­ket.

Founded in 1985, Chanelle holds over 1900 prod­uct li­cences for hu­man health prod­ucts world­wide.

It has over 2,000 an­i­mal health li­censes reg­is­tered in the EU — the largest num­ber of reg­is­tered vet­eri­nary li­censes of any com­pany in the EU, with 500 li­cences out­side the EU.

Lady Chanelle Mccoy is di- rec­tor of med­i­cal busi­ness at the group, which is the largest Ir­ish-owned man­u­fac­turer of generic phar­ma­ceu­ti­cal prod­ucts in Ire­land.

Last year, the com­pany re­ported sales of €111m, a fig­ure it ex­pects to in­crease to €130m in 2018.

Com­ment­ing on the an­nounce­ment, Fianna Fail coun­cil­lor Shane Don­nel­lan de­scribed it as “mas­sive news” for the lo­cal area.

“The ad­di­tional jobs will bring more peo­ple to the area and help to keep re­tail out­lets alive, which are now com­ing un­der pres­sure from online shop­ping,” Cllr Don­nel­lan said.

Jobs will bring peo­ple to the area and help to keep re­tail out­lets alive, which are com­ing un­der pres­sure

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