Bausch & Lomb Back on Track and Now Expanding 125 jobs and €75 million investment – Minister Coffey

Fine Gael Waterford Minister Paudie Coffey has said today’s announcement that Bausch & Lomb are to create an additional 125 jobs in Waterford is a clear sign that they and Waterford City are bouncing back. Minister Coffey said this is yet another indication of the improving economic environment we in Waterford find ourselves in and it is based on new investments in a variety of sectors.

“Today’s news will see €75 million invested in an expansion to their facility in Waterford that will see 125 permanent jobs created at the facility. The construction of the new facility will see 112,000sq ft of a new building adjacent to the current facility that will create 150 construction jobs.

“Last year we had the devastating news that Bausch & Lomb were to let go 200 people, with the further prospect of pulling their entire operation out of Waterford, with the loss of 1,100 jobs. At that time the workers; the unions and Labour Relations Commission worked tirelessly to secure as many jobs as possible. Thankfully as a result of everyone working together 900 jobs were saved at the facility.

“At that time I met with the workers, unions and the Vice-President of Bausch & Lomb Angelo Conti and, in the weeks after the workers accepting the renegotiated deal, the CEO of Valiant which is Bausch & Lomb’s parent company gave a commitment for capital investment in the facility.

“This happened on time and almost €50 million investment has been delivered or committed to in Waterford, this saw 50 additional workers hired at the plant before the end of last year. Today’s news brings employee numbers at the facility back up to 1,100 people employed, keeping it as one of the South East’s largest employers.

“This news follows directly on from other positive news on the jobs front in Waterford in recent weeks, where 100 jobs were announced for NearForm in Tramore, Co. Waterford and 100 jobs were announced for Agora Inc in Portlaw, Co. Waterford last week. This brings to total 325 IDA and Enterprise Ireland jobs announced for Waterford in the last month.

“I expect in the coming weeks for there to be further positive jobs announcements for Waterford as we continue to create jobs ahead of the national average. The unemployment rate in the South East Region has fallen in the last three years from 20.1% to 11.9% at the end of last year. I expect that figure to fall further in the coming year as more jobs are delivered for Waterford.

“These announcements will assist government further in relieving the tax burden on working families in the coming year. Already, the government has cut income taxes and removed 420,000 people from paying the USC. This has only been possible due to the stable political environment that we have had since 2011 that has led to a certain economic environment; this leads to confidence and investment that leads to job creation.

“Finally I want to commend the workers and management of Bausch and Lomb for their work over the last year; that first saw 900 jobs retained and has since seen significant capital investment and jobs created once again. After years of the worst economic downturn in this history of the state; Waterford is getting back to work.”

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