Taoiseach announces €70 million investment by Chanelle
175 New Jobs to be created in Loughrea over next five years as Chanelle doubles production capacity
R&D investment will see 75 new products launched on worldwide markets
February 11th 2016, Galway: Taoiseach Enda Kenny today announced the creation of 175 new jobs by Chanelle Group, Ireland's largest indigenous pharmaceuticals manufacturer. The company is undertaking a €70 million investment programme that will see Chanelle Group expand manufacturing capacity at its Loughrea headquarters and invest in Research and Development. Founded by CEO Michael H. Burke in 1985, Chanelle Group currently employs 375 people in Ireland, the UK, Jordan and India.
Taoiseach Enda Kenny said; "I am delighted to welcome this €70 million investment by the Chanelle Group which is a vote of confidence in Ireland as a world class manufacturing location and as a leading centre for research and development in both human and veterinary pharmaceuticals. The Government wants to keep the recovery going so that innovative companies like Chanelle can continue to expand, grow and create jobs. It is most welcome that Chanelle is increasing its workforce to over 550 people in the West of Ireland and I congratulate Michael Burke on his achievements".
Michael Burke, Founder and Managing Director, Chanelle Group said; "In the past five years revenue has grown 100% and employment has increased by over 200 people. This growth has been driven by research and development of new products and the expansion into new markets. We invest over €8million annually in research and development and this investment will continue as we launch 75 new products over the next five years in both human and veterinary products.
"Today's investment programme will double production capacity at our Loughrea manufacturing facility to ensure we can meet the global demand for both our – market-leading pharmaceuticals and the new products in development."
Mr. Burke added that Chanelle Group will be expanding into new markets including the United States, Central and South America. He expects revenues to increase by 65% over the next five years.
175 new jobs will be created bringing total employment in Chanelle Group to over 550 people. These will be high value jobs. 50% of Chanelle Group's existing workforce holding a 3rd level qualification. Construction on the expansion of production facilities which will add 30,000 sq.ft. of manufacturing plant will commence in March. 45 jobs will be created during construction.
Tom Kelly, Head of Industrial LifeSciences and Consumer Division, Enterprise Ireland said; "A key role of Enterprise Ireland is to support companies to scale internationally and Chanelle Group's commitment to continuously strengthening its R&D capability, its embrace of Lean Business principles, its investment in its people and in modern plant and equipment have provided the foundations for its success in global markets. Most critically the visionary and courageous leadership of its founder and CEO, Michael Burke, has resulted in a company of true excellence in its field and one that will achieve even greater success in the decade ahead".