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Growth for airfare cheap Ireland



"AIRFARE CHEAP IRELAND"

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"AIRFARE CHEAP IRELAND"

12/1/2003

The Irish economic environment is changing. Once companies locating in Ireland operated in a low- to medium cost manufacturing environment. Relatively low wages, a favourable tax environment and a highly qualified workforce attracted multinational companies, which led the country's much vaunted growth. In recent times, operating costs have increased and competition from new and emerging economies is intensifying, economies all eager to emulate Ireland's success in attracting manufacturing from overseas companies.

AIRFARE CHEAP IRELAND

One of major challenges for the Irish government, industry and other stakeholders is to establish Ireland Inc. as a centre for innovation and research and development (R&D). Ireland needs to fully develop the complex support structure that is required to enable the transition from basic manufacturing to adding value to processes and R&D. In short, Ireland must position itself as the best location for the development, manufacturing and marketing of innovative medical devices and diagnostics.

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The Irish Medical Devices Association (IMDA) has published a strategy document that outlines measures industry stakeholders must take to meet the challenges facing the sector. Areas to focus on include cost and competitiveness, R&D, indigenous industry support and infrastructure. If fully implemented, this strategy will help to secure the sector's base in Ireland by growing a vibrant indigenous industry and enticing further overseas investment.

Huge new investment

Existing management talent and engineering resources in Ireland provide an excellent base from which the sector can move up the product value chain. The steps already taken by the Irish government and industry have had a positive impact on the development of the medical device and diagnostics industry: Four major projects announced recently are testimony to the its continued success.

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Abbott Laboratories has announced a 115-million [euro] investment in a greenfield site in Longford and an expansion of its Sligo operation. These new investments will create 950 new jobs over the next five years, 600 in Longford and 350 in Sligo. The new facilities will be important international manufacturing sites for Abbott's diagnostics test kits for a range of diseases and medical conditions.

Olympus Diagnostica's site in Clare is its sole manufacturing site worldwide for the development and production of clinical chemistry reagents for the in vitro diagnostic market. Olympus is to invest almost 5 million [euro] in expanding its high level R&D activity, which will result in the Olympus Group becoming involved in research into immunoassay systems.

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Inamed Corporation is to implement a 7.4-million [euro] investment over the next five years to expand its operations in Arklow, County Wicklow. This will establish the Irish operation as the company's global centre of manufacturing excellence for silicone breast implants and be a key strategic site within its global operations.

Fort Wayne Metals, a developer and producer of precision wire products, is to create 80 new jobs over the next five years in Castlebar, County Mayo. The company is investing 3.4 [euro] million in establishing a European base for the manufacture and distribution of its products to the medical device industry in Europe.

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The success that other multinational companies such as Medtronic and Boston Scientific have achieved in establishing technology centres, R&D and other strategic capabilities and competencies in Ireland provides a strong foundation for further development of the industry. Their continuing initiatives have assisted in focussing the local support infrastructure, including research centres and academia, on the major issues it faces in a constantly changing business environment.

The R&D infrastructure in the universities has developed considerably. There are now a number of centres of excellence including the National Centre for Biomedical Engineering Science in Galway (www.nuigalway.ie/ncbes), the Biomedical Engineering Research Centre at University of Limerick (www.ul.ie) and the Trinity Centre for Bioengineering, Dublin (www.tcd.ie/bioengineering/index. htm). Areas of research include cardiovascular disease, orthopaedics, cancer, reproductive disorders, fluid mechanics, tissue engineering and women's health.

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AIRFARE CHEAP IRELAND

The Irish medical device and diagnotics industry at a glance.

* The industry is comprised of 85-100 companies and exports goods in excess of 3.8 billion [euro] per annum

* Thirteen of the world's top 20 medical devices and diagnostics companies have manufacturing plants in Ireland 57% of the companies have an R&D function

* The spend on R&D in 2001 was 50 million [euro] representing an increase of 34% on the previous year

* The number of personnel employed in R&D activities increased by 20% between the years 2000 and 2001,

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* Medical device and diagnostics companies are expected to employ over 22000 people by the end of 2003, equating to 10% of the country's manufacturing workforce

* Total direct and indirect employment amounts to approximately 36000 jobs

* The industry reported an anticipated shortage of 509 employees in the period 2001-2003.The major shortages are in R&D (54 staff) and computer numerically controlled machinists (61 staff).

* The sector employs a highly skilled workforce and over 40% of employees have third-level education/higher degrees

* The industry benefits from the country's ability to adopt technology with flexible and responsive services from supplier companies

* The industry spent a total Of 7.83 million [euro] on staff and management training in 2000,which represents 2.07% of total payroll costs and was expected to spend 7.82 million [euro] in 2001..... Compare airfare cheap Ireland here /cheap airfares home