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13/10/2011

€150m Genzyme Expansion Revealed

A leading biotechnology company has revealed a €150m expansion of their campus in Waterford.

Genzyme, a Sanofi company, upgraded their facility to enable increased capacity at in manufacturing operation, additional development capability, laboratory facilities and administration offices.

The biotechnology site employing 500 people has seen capital investment of €500m since Genzyme’s arrival in Ireland 10 years ago.

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Richard Bruton, Minister for Jobs, Enterprise & Innovation, officially opened the new facility at the ceremony attended by Councillor Pat Hayes, Mayor of Waterford; Christopher A. Viehbacher, Chief Executive Officer, Sanofi and Barry O'Leary, Chief Executive Officer, IDA Ireland.

Minister Bruton said: "Genzyme is deepening its commitment to Ireland and Waterford with this €150m investment.

"Biotechnology and pharmaceuticals have been major parts of the success of multinational investment in Ireland in recent years. If we are to get out of the crisis we are in, we must continuously build on these strengths. We must continually encourage companies in these sectors to locate more important parts of their operations in Ireland."

(LB/BMcC)

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