The Danvers, Mass.-based cardiac device maker is putting its plans to hire 250 workers for the plant in Athlone, Ireland, on hold because of the “tough economy,” an unidentified spokeswoman told the newspaper.
Abiomed had planned for the 33,000-square-foot facility to make its Impella line of cardiac assist devices, hiring a handful of employees at the operation, including a general manager, according to the Independent.
“Yes, we have decided to put the Athlone project on hold,” the spokeswoman said. “We are not shutting it down or moving out of Ireland. We will maintain the Athlone building lease and secure the production equipment to meet future expansion needs. In this tough economy, we have to conserve our cash.”
Impella sales pumped up Abiomed’s first-quarter results, accounting for 60 percent of total worldwide sales. Revenues were up 22 percent for the first period of fiscal 2010, and the company cut its net loss by nearly 15 percent.