€41 million investment will generate 50 jobs at Bausch and Lomb in Waterford City – Coffey

Fine Gael Waterford Minister Paudie Coffey has welcomed the news today that Bausch and Lomb are investing €41million into their plant in Waterford City, this investment will generate 50 jobs at the facility. Minister Coffey said this shows that Bausch and Lomb are committed to Waterford and are delivering on the promises made by executives at the company earlier this year to its staff and the people of Waterford.

“The staff at Bausch and Lomb have been working through what has been an extremely difficult year. Over the summer the staff and their families at Bausch and Lomb faced a very stark choice of facing job losses and taking substantial pay cuts or the company was threatening to pull out of Waterford altogether.

“The workers at Bausch and Lomb acted with courage and dignity when faced with this choice and as a result of discussions with senior management they received commitments of future investment in the facility in Waterford. I am pleased that Bausch and Lomb have now delivered on this commitment and are investing €41 million into their Waterford plant.

“This investment follows on from earlier this year when €6 million was announced for the plant in the immediate aftermath of the discussions with workers. Bausch and Lomb is a vital employer for Waterford and I am pleased that their future is now secure in the City.

“These new jobs will be a boost for the local economy and shows confidence in the people of Waterford. The announcement adds to the growing number of IDA supported jobs in the City, with companies like Nypro, West Pharma, NuVasive all announcing investment and jobs in recent times. The IDA is also nearing completion of a state-of-the-art manufacturing facility in the City that will hopefully lead to further job creation in the City.

“The local and national economy are improving and jobs are being created; this in stark contrast to a few years ago when Waterford’s economy spectacularly collapsed and the unemployment rate reached dangerous levels. This government have implemented sensible economic policies that have resulted in attracting Foreign Direct Investment that is leading the creation of much needed jobs in Waterford and beyond.”