www.fdanews.com/articles/75641-hospira-will-close-plant-in-ireland-to-cut-costs
HOSPIRA WILL CLOSE PLANT IN IRELAND TO CUT COSTS
August 23, 2005
Hospital products maker Hospira Inc. (HSP.N: Quote, Profile, Research) on Tuesday said it will close its medical device plant in Donegal, Ireland, within the next 18 months in a move to cut costs. The company said about 550 employees will be affected by the closure, and result in expenses of $30 million (16.7 million pounds) to $40 million over the period 2005 to 2007. Hospira expects to eventually achieve annual cost savings of about $15 million, beginning in 2008. It plans to move production to Hospira facilities in Costa Rica and the Dominican Republic, which have available manufacturing capacity to absorb the transfers, the company said.