Business and Finance

Randox announces expansion plans

randox announcement Global medical diagnostics provider Randox Laboratories has unveiled plans for a new a £161 million project in County Antrim.

The award-winning biotechnology firm recently obtained the former Massereene army base in Antrim town, which will be redeveloped to house a new manufacturing and research and development facility, now renamed Randox Science Park.

Speaking at the event, Randox Managing Director Peter FitzGerald said: “The creation of Randox Science Park is fundamental to Randox meeting the health challenges facing populations across the world. We are an innovation-led company [and] must continue innovating, through our people, through our knowledge and through our technology: Randox Science Park gives us the platform we need to do this. This investment and expansion reinforces our dedication to improving health worldwide and our commitment to the regional economy. It is about the future of diagnostic medicine. We are beginning 2015 as we mean to continue.”

In addition, the creation of 540 new jobs, with an average salary of £30,000 per year will generate £16.2 million in annual salaries, represents a significant boost to the local economy. The company is already engaging with Northern Ireland’s universities to recruit high calibre graduates for the world class opportunities at the new facility.

Invest Northern Ireland is supporting the £29 million Randox capital redevelopment of the site with an investment of £4.7 million.

Randox was also one of fifteen Northern Ireland companies including Aura Healthcare and CIGA Healthcare which exhibited at the United Arab Emirates’ largest life and health sciences exhibition, Arab Health.

The trade mission was led by Enterprise Minister Arlene Foster who remarked that Northern Ireland’s vibrant life and health sciences sector will be at the heart of future economic growth.

Foster said: “The high level of interest shown in Northern Ireland companies exhibiting here shows how vibrant the sector is.

“Encouraging innovation and stimulating research and development, will help to boost exports and encourage further investment. I look forward to hearing of more success for our local companies following their participation in Arab Health.”

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