Multi-million Euro investment announced for Clonmel

Abbot - Clonmel Photo from Abbot website

Global healthcare company Abbott is to invest €37.8 million in its cardiovascular R&D centre in Clonmel over the next three years.

Today’s announcement is seen as a major vote of confidence in Clonmel and the future of Abbott in the town.

The company is the world leader in drug-eluting stents. Both R&D and manufacturing of the company’s new vascular technologies to treat complex heart disease take place at its Clonmel site.

Tánaiste Leo Varadkar says the investment is a vote of confidence and a positive announcement for Clonmel, Tipperary and Ireland.

“Abbott was one of the first US companies to establish operations in Ireland and this is further evidence of their commitment to the country.”

“It’s a real tribute to the management and the staff of Abbott’s vascular division in Clonmel that they were able to secure this investment for the town and for Ireland.”

Today’s announcement comes as Abbott celebrates 75 years in Ireland.

Site director in Clonmel Deirdre Mullins says the investment shows Abbott’s commitment to Ireland.

“Over that time Abbott has continues to reinvest in operations here in Ireland supporting rural communities and employing over 4,000 people in nine locations across Ireland.”

“This investment is just a continuation of that 75 year story – we’re very proud of it and we’re very happy. It’s great news for Abbott and it’s great news for Clonmel today.”

Local Fine Gael Senator Garett Ahearn says the announcement is a major vote of confidence in the Clonmel plant and it’s staff.

“This investment of €37.8 million just shows the confidence, support and commitment that the company have to the Clonmel plant.”

“This is an investment in the people and the region of Clonmel.”

Mayor of Clonmel Michael Murphy is hopeful today’s announcement will spur others to invest in the area.

“When you see a company like Abbott expressing such a vote of confidence that message stretches far and wide and I hope it will be a catalyst for further investment in Clonmel and particularly perhaps with regard to the Ballingarrane site as well.”