County Tipperary is in for a major jobs boost in the coming months following the news that the former Cordis plant in Cashel has been sold to a US producer of generic drugs.
Solidus Private Equity, a Singapore-based investment company, has confirmed the sale of the site to a “US headquartered, world-leading manufacturer of generic pharmaceuticals.” Solidus bought the site earlier this year with a view to developing it as an export base to Europe and as a research and design arm.
On Monday, the company confirmed it has now sold the plant to “one of the largest manufacturers of unbranded prescription drugs in the US.” The Tipperary Star understands the company is called Amneal, and that Cashel beat off stiff competition from other locations across the globe to win the multi-million euro foreign direct investment.
Confirming the sale, Una McGirr, a spokesperson for Solidus Private acknowledged the strategic importance of the transaction for the community in South Tipperary and the town of Cashel, and noted the key role played by the Minister for the Environment, Community and Local Government, Mr. Alan Kelly TD, in facilitating the choice of Cashel for a new pharmaceutical development and investment in Ireland. The support of the former Irish Ambassador to Singapore, Mr. Joe Hayes, a native of Thurles, was also cited as important in securing the deal. Mr Hayes told the Tipperary Star the buyers are “a very high-end and a highly respected company with a global footprint. If I was living in Cashel, I’d be very pleased with this development.” Concerns were growing in recent weeks after the owners put up a ‘to let’ sign outside the front gate. Minister Alan Kelly welcomed confirmation that the Cordis site is to be sold, with the result likely to bring an employment boost to the area. “This is a hugely significant development for South Tipperary and Cashel. The news that one of the world’s leading pharmaceutical companies has purchased the site shows that it has tremendous jobs potential.”
Full story in this week’s Tipperary Star.