Global pharmaceutical giant Almac is planning a £3.7 million investment in the borough, Armagh I can reveal.
And it is a move which is expected to create more than 20 new jobs.
The planned development will be based at the company’s Co Armagh headquarters in the Seagoe Industrial Estate.
It comes just weeks after the publication of figures showed 2015 was easily Almac’s most successful year, as it doubled operating profits at almost £29 million.
Almac, partnered with Queen’s University, also announced last year they had managed to create a new therapeutic drug which would help in the fight against ovarian cancer, slowing down tumour growth in those with advanced stages of the disease.
Now the company is planning a new facility for the ‘cold storage’ of pharmaceuticals in Co Armagh.
It will be constructed on car parking space and vacant land and cover an area close to 5,000 sq metres.
An application to build was submitted to Armagh City, Banbridge and Craigavon Borough Council for consideration last December.
Almac indicated that the new facility would bring 22 new jobs to the borough.
With assets of almost £320 million, Almac is one of Northern Ireland’s richest companies.
It was founded in 2002 by the late Sir Allen McClay and is now headed up by Mr Alan Armstrong, last year acquiring Arran Chemicals in the Republic.
With more than 3,500 employees worldwide, it has operations in the United States – in Pennsylvania, California and North Carolina – as well as Japan and Singapore.
This latest Co Armagh proposal – which has just been given planning approval – will help accommodate existing services and, Almac hopes, bring a potential increase in production at the site – projected to be in the region of 15 per cent.