Around 300 jobs have been saved as a result of $25m purchase
A self-proclaimed leading player in the pharmaceutical industry has been saved from closure, meaning more than 300 people will keep their jobs on Merseyside. TirRx Speke Ltd announced its decision to appoint administrators based on the “current situation with its core customer”.
It was announced on September 13 that hundreds of jobs were at risk as the company appointed FTI Consulting to find a buyer. But in a statement on Friday, November 15, a spokesperson confirmed jobs at the plant on Fleming Road in Speke were saved as Elanco Animal Health Incorporated completed the purchase of the company in Merseyside for $25m.
“This acquisition removes the immediate threat of closure from the site and protects approximately 300 highly-skilled employees in Liverpool’s life sciences cluster and supports jobs in the wider area businesses that help support the site,” said Grace McArdle, Executive Vice President, Manufacturing & Quality. “We will look to work with both the Liverpool City Region and the UK Government in the months ahead to secure the public support needed to stabilise site operations and to ensure it can both protect jobs and boost the growth of Liverpool’s world-leading life sciences cluster.”
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Elanco financially ran the site during the administration process and it is expected the company will ensure the continuation of product supply. Elanco provided around $25m in cash at closing to acquire the facility and all assets.
According to the company, Elanco is a global leader in animal health as it innovates and delivers products and services in order to prevent and treat disease in farm animals and pets.
Oliver Wright, Joint Administrator, commented: “This acquisition has secured a great outcome for over 300 highly-skilled people and the wider Liverpool region. We are delighted to have been able to support the business and Elanco to deliver a successful acquisition, which safeguards the immediate future of the site.”
Steve Rotheram, Mayor of the Liverpool City Region, said: “I strongly welcome Elanco’s decision to ensure the TriRx site remains open and that jobs are secured. We are proud of the historic growth that the life sciences sector brings to the Liverpool City Region. I will continue to work with Elanco, Liverpool City Council and the Government, to ensure the long-term viability of the site.”