130 jobs were lost last May when the pharmaceutical facility went into liquidation.
The new venture – which is made of companies based in Ireland, the UK and the UAE – will be known as IQ Pharmatek.
Speaking to Tipp FM company spokesperson Azzam Hussein says they will be getting things up and running within a matter of weeks .
He production will begin within a month, initially employing 100 people and then increasing that by another 100 in a year's time.
