200 jobs are being created in South Tipp.
IQ Pharmatek is re-opening in a couple of weeks time at the old Suir Pharma site in Clonmel.
The company intends to create employment for about 200 people - phase 1 of the operation will see 100 jobs created and another 100 next year.
The company will continue the business of contract manufacturing for third parties and there is a plan in place to introduce the company's own range of products.
The current target customers and markets will be: Europe, USA, Canada, MENA and the far east.
The is a big future to expand the facility to include an injectables manufacturing line.
This will be a stand alone facility on a greenfield site within the plant.
Mayor of Clonmel Borough, Cllr Andy Moloney, is excited about the impact it should have on the town and wider region.
"This is great news for the area and the region, I suppose 200 jobs in this day and age is a great boost to the economy and the locality and especially as it's on the site where Suir Pharma closed.
The 17th of May was the official date of closure of that site but then there was work going on there until late August and it's been closed since then.
So hopefully this new consortium that have taken over IQ Pharmatek, and I 've been speaking to them on a good few occasions in recent times, and they seem to be all drive forward so hopefully there will be 200 jobs in a short space of time.
I suppose like every other town Clonmel has struggled in recent times, but there are some green shoots appearing around the Clonmel area.
There's some new little businesses that have opened up over the Christmas and just prior to it.
There was a void in the town following the closure of Suir Pharma so hopefully the 200 jobs will fill it."
