Abbott (NYSE:ABT) will spend €440 million ($450 million) to expand its operations in Ireland, the country’s government announced today.
The investment involves the creation of a new 250,000-square-foot manufacturing facility in Kilkenny and a further investment in the company’s Donegal Diabetes Care site. The investment will add 1,000 new jobs between the sites.
The new plant in Kilkenny will still need to clear planning permission. It will give Abbott the capacity to substantially increase the production of its FreeStyle Libre CGM technology for people with diabetes.
“Abbott has a long and successful history, first establishing operations in Ireland in 1946, and this new investment is a great vote of confidence in the workforce here and in this country as a place to invest,” Irish Taoiseach Micheál Martin said in a news release.
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