Swiss pharmaceutical giant Roche has spent €23 million to demolish its unsold facility in Clare

The bill to Swiss pharmaceutical giant Roche for the decommissioning and demolition of its Co Clare facility has totaled €23.3 million over the past two years.

New accounts show Roche Ireland Ltd posted losses of €24.17m last year as the bill over the decision to stop production here continued to mount.

The loss of €24.17 million last year was followed by losses of €34.55 million in 2020.

The plant was once one of the most prestigious jobs in the Midwest, and the Swiss-owned pharmaceutical giant announced its decision in 2016 to close its Clarecastle plant with the loss of 240 jobs.

After being unable to find a buyer for the pharmaceutical site, the company began decommissioning the site and demolishing its fine chemicals plant “to brownfield status”.

In line with the plant’s closure plan, the company ceased all production in 2019 and completed all product sales by January 2020.

The €16.8 million decommissioning and demolition bill last year will be followed by €6.5 million in costs under that heading in 2020.

The company reported no revenue last year, compared to €5.8 million in 2020.

In addition to the decommissioning and demolition costs, the company spent a further 4.29 million euros on environmental costs last year.

This follows spending of €4.82m under that heading in 2020.

Directors say the company proceeded with its planned layoff program in March 2020 and 100 percent of the workforce has left since May last year.

Directors say they are proceeding with their plan to decommission and demolish their assets. According to the company, the company has successfully transferred the facility from a manufacturer to a construction site, started decontamination and demolition work in 2020 and plans to complete it in 2026 – a year later than expected last year.

Management board salaries rose from €414,000 to €786,000 last year.

At the end of December Roche Ireland had shareholder funds of EUR 2.4 million.

Headquartered in Basel, Switzerland, the Roche Group is active in over 150 countries and employs more than 88,000 people worldwide.

https://www.independent.ie/business/irish/swiss-pharma-giant-roche-spent-23m-to-demolish-its-unsold-clare-plant-41917067.html Swiss pharmaceutical giant Roche has spent €23 million to demolish its unsold facility in Clare

Fry Electronics Team

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