Estimated €6 million Bausch and Lomb funding for upgrade of plant – Coffey

Fine Gael Waterford Deputy, Paudie Coffey, has welcomed news that Bausch and Lomb will immediately follow through on their commitment to invest in their Waterford plant. This follows on from the agreement by workers to meet extremely difficult cost saving measures at the plant. The company promised that it would upgrade and invest in the facility in Waterford City as part of the agreement.

“The last number of weeks have been hugely difficult and stressful for the workforce of Bausch and Lomb, however this announcement reinforces the commitment made by management at the time of the negotiations that they would invest in this plant. The investment, which will be supported by IDA capital grants, will be used to upgrade packing and inspection systems to modernise the facility.

“As a result of the acceptance of the negotiated offer, 900 jobs have been saved and enhanced redundancy packages have been achieved and it is my hope that the 200 redundancies can be achieved on a voluntary basis. This news of an estimated €6 million capital investment in the plant should give the remaining staff at Bausch and Lomb security in their jobs.

“I welcome today’s announcement that Bausch and Lomb is delivering on a promise made to workers in Waterford. The IDA has acted speedily to ensure that Bausch and Lomb, which has employed people in Waterford City for over 30 years, will continue to do so by providing capital grant assistance for the new production systems with a view to sustaining jobs.

“Following a meeting between Waterford Oireachtas members and Angelo Conti, the Vice President of Bausch and Lomb, regarding the future development of the plant, I believe that Bausch and Lomb now sees a long term future in Waterford and I would hope that further capital investments will be made in the plant over the coming period.

“Once again I wish to commend the workers of Bausch and Lomb who have shown tremendous dignity and courage during a very traumatic few weeks. I expect that the IDA and Bausch and Lomb will continue to work together so that further investments can be achieved to enhance the facility in the long term and in the future lead to the creation of new jobs again at the Waterford plant.”

ENDS