Almac To expand it’s Manufacturing in NI

Northern Ireland based phramaceutical firm Almac is to get a share of a multi-million pound government funding package aimed at helping to make the UK a “world leader in manufacturing”.

Chancellor Jeremy Hunt is to announce the funding, worth a total of around £360 million when combined with the investment from industry, for research and development and manufacturing projects across a number of sectors.

Almac, with a facility at the Seagoe industrial estate in the Craigavon area, is to share in a £7.5 million pot with a Welsh company to expand its manufacturing plant. The two firms, Almac and Ortho Clinical Diagnostics, are investing a combined £84 million in their expansions.

The investment package will be spread across the life sciences, automotive and aerospace sectors.

Alongside the £92 million for medicines and diagnostics expansion there is a joint investment worth £200 million in zero-carbon aircraft technology, and £73 million in automotive technology.

Chancellor of the Exchequer Jeremy Hunt said: “We’re sticking with our plan by backing the industries of the future with millions of pounds of investment to make the UK a world leader in manufacturing, securing the highly-skilled jobs of the future and delivering the long-term change our country needs to deliver a brighter future for Britain”.

Almac, which makes drugs to treat cancer, heart disease and depression, is to share in a £7.5 million package from the government with Ortho Clinical Diagnostics based in Pencoed in South Wales.

A government spokesperson said: “These new life sciences investments are the latest step in the government’s plan to grow our economy, encourage innovation and support levelling up with nearly 300 supported jobs across the UK.

“The Chancellor is also confirming that companies will soon be able to apply for a share of the £520 million funding for life sciences manufacturing announced at Autumn Statement, with competitions for large scale investments opening for expressions of interest this summer and medium and smaller sized companies in the autumn. The fund is designed to build resilience for future health emergencies such as influenza pandemics and capitalise on the UK’s world-leading research and development.”

The government has also announced almost £73 million in combined government and industry investment for cutting-edge automotive R&D projects to support the development of electric vehicle technology. The government say £36 million of government funding will be awarded through Advanced Propulsion Centre UK (APC) competitions.

Business and Trade Secretary Kemi Badenoch said: “Today’s announcement builds on the success of our Advanced Manufacturing plan announced last year, and will ensure we continue to grow the economy, help create jobs and secure the future of great British manufacturing.”

This article is from Belfast Live and full article can be viewed here