Photography: Harrison Photography
Enterprise Minister Arlene Foster is pictured at Randox Laboratories with Managing Director, Dr Peter Fitzgerald.
Enterprise Minister Arlene Foster today announced that Randox Laboratories is to create 242 new jobs as part of a £15.8million expansion.
The investment is being supported by Invest Northern Ireland, which has offered £2.4million of assistance.
Randox Laboratories, based in Crumlin, specialises in the development of sophisticated chemical and biochemical diagnostic tests and devices, primarily targeted at hospital, clinical and veterinary laboratories.
Randox Laboratories currently employs over 850 people worldwide, including 620 in Crumlin.
The investment will allow the company to upgrade its facilities and strengthen its sales, marketing and production capability. The new jobs will be created across those functions and will collectively deliver £5.6million annually in salaries.
Arlene Foster said: “Randox is one of Northern Ireland’s most successful and respected companies. It has grown steadily since it was set up in 1982 and, through a firm focus on research and development, has established itself as a world player with an international reputation for excellence.
“This significant investment will enable the company to increase sales of its innovative products in the growing medical diagnostics market, which is a multi-billion pound industry and one in which Randox continues to excel. Through the new jobs created, this investment will also benefit the wider local economy, in terms of salaries and employment opportunities.”
Randox Laboratories has an extensive worldwide network of distributors servicing 130 countries and 95% of its products are exported. The company invests over £7million in research and development each year.
Managing Director of Randox Laboratories, Dr Peter Fitzgerald, said: “We have set ambitious revenue targets for the next few years which will depend on increasing our sales and marketing activity and penetrating new markets. We have identified sales opportunities in the rapidly expanding economies of Brazil, Russia, India and China and will be targeting these with our extensive portfolio of products. We also have many new revolutionary products planned for release in 2011 that will make patient testing faster, simpler and more accurate.
“Invest NI’s ongoing assistance as been a key element in our growth and the support for this project will help us to continue to honour our commitment to improving healthcare worldwide.”