Cara Partners, the Co Cork-based natural medicines manufacturer, has said it will invest €130 million in its Little Island facility over the next four years, creating 60 new jobs on-site.
The company, part of the German Schwabe Group, has had a presence in east Cork since 1978 and bulk manufactures an active pharmaceutical ingredient (API) used in different products across the group’s range.
The €130 million investment, which is supported by IDA Ireland, will also fund the development of 15 additional API products, Cara Partners said in a statement on Monday, and the modernisation of its existing production line.
“Cara Partners has been part of the Schwabe Group for over 40 years and is an expert in the extraction of API from natural herbal material,” said Dr Frank Waimer, chief executive of Schwabe Group. “Following this investment, Cara Partners will be the global centre of excellence within the Schwabe Group and worldwide.”
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Stephen Kenny, general manager at Cara Partners, said the investment will “secure the future” of the Little Island site for decades.
Minister for Enterprise, Trade and Employment Peter Burke said the investment “affirms Ireland” as a “leading choice” for the pharmaceutical industry. “Regional investments such as this are most welcome and remain a priority for both Government and IDA Ireland.”
“I was delighted to recently visit Cara Partners, a member of the Schwabe Group, to celebrate this significant investment and jobs announcement,” said EU commissioner-designate Michael McGrath. “This is another welcome endorsement for Cork and indeed the wider southwest region as a prime location for companies like Cara Partners.”
“Since 1978, Cara partners have had a strong presence in Cork,” said Mary Buckley, IDA Ireland executive director. “This announcement of a €130 million expansion and 60 high-quality jobs is very welcome news and exemplifies IDA Ireland’s continued commitment to winning jobs and investment for every region in Ireland. I wish Cara Partners and the Schwabe Group continued global success.”
A number of multinationals have announced large-scale IDA-supported investments in their Cork facilities this year.
In July, Motorola announced a new global research and development centre in Cork with plans to recruit 200 staff. The roles will be focused on designing software for the company’s land mobile radio portfolio, a technology used by first responders and frontline workers, the company said in a statement. Motorola Solutions has plans for expansion into other technologies in the future, the company said at the time.
IBM, meanwhile, announced it would create 800 new roles across its sites in Dublin, Cork and at its subsidiary Red Hat in Waterford.
However, IDA Ireland said in July that the flow of multinational investment into the Republic slowed in the first six months of 2024 amid an increasingly uncertain geopolitical backdrop.
In its half-year report, the industrial development agency said it supported 131 investments “enabling the future delivery” of 8,900 jobs in the first six months. This was down from the 139 investments and 12,072 jobs secured during the same period last year.
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