An Italian company, Zannini Ireland, is to set up a new factory on a greenfield site in Tullamore, Co Offaly, to manufacture packaging materials for the pharmaceutical industry.
The Pisa-based company, which is due to begin production before the end of next year, will initially employ 20-25 workers and expects to to have a workforce of 70 when in full production.
The company supplies to the multinational companies like Abbott, Pfizer, Wyeth, Pharmacia & Upjohn, Merck Sharp & Dohme, Glaxo, Eli Lilly and others.
At peak production, the Tullamore factory is expected to produce 90 million cartons, leaflets, labels and alufoil for blister packs, annually.
Initially, the company will service the French and British markets which are currently being looked after by its two main plants in northern Italy.
The company will locate itself on a 2,600 sq metre factory on the Srah Industrial estate on the outskirts of the town which is owned by the IDA.
The £2.5 million facility will be 40 per cent financed from share capital increases, while the remaining part will be covered partly through third-party loans and partly through European funds.
In its first year of operation, Zannini Ireland expects to produce around 50 million folding cartons and to double production and revenue in the first five years.
