Irish Tánaiste and Minister for Enterprise, Trade and Employment, Mary Harney, has announced the establishment of Nypro Waterford Ltd, a new company located at Waterford Industrial Estate.

It is expected that the £13 million project will lead to the creation of 400 jobs over the next four years in the high-volume, highly automated assembly of electromechanical components.

Making the announcement the Tánaiste said, "The establishment of Nypro Waterford Ltd at Waterford Industrial Estate is a tremendous boost not just for the city, but for the South East region as a whole. While the creation of 400 good quality job opportunities in a modern industry environment itself is significant, it will also provide further spin-off benefits for local service industries.”

Pat Holohan, General Manager of Nypro Waterford, commented that he was extremely satisfied with the calibre of the team recruited to date and that the company were very pleased with the quality of the infrastructure and services in the Waterford area. Gerry Murphy, Enterprise Ireland Director of Industrial Products and Europe, added: "The establishment of this facility in Waterford is a vote of confidence in the city and indeed the region. Nypro has recognised the many benefits available to companies locating in this region, including a highly educated and flexible workforce".

The new building, which has a rigidly controlled clean room environment, is one of several dedicated contract manufacturing facilities being constructed around the world by Nypro.

The new facility is part of Nypro’s strategy to better serve global customers throughout the European area.

Nypro has over 8,000 employees and 1,000 injection moulding machines at 27 plant sites in 12 countries worldwide, including Ireland, Wales, France, Germany, and Hungary. Annualised sales are about $800 million. (CL)