Rockwell invests in Ireland
ProsCon Holdings in a strategy to move into the European
pharmaceutical market.
The recent acquisition, terms of which have not been disclosed, sits alongside Rockwell's primary business of making products that improve companies' manufacturing processes.
ProsCon uses an off-site 'stick build' engineering concept for facility building, in which the company assembles modules off-site which are then fitted together on the production site.
This acquisition makes strategic sense because it follows in the footsteps of a string of other recent acquisitions in the life sciences field.
Ireland has long been a hub for the pharmaceutical industry, particularly for manufacturing, and has one of the world's fastest growing life sciences markets. The country punches above it weight in this regard, helped by an advantageous corporate tax regime of 12 per cent and an education system geared at producing graduates for the pharmaceutical industry, according to ProsCon.
As an example, GlaxoSmithKline recently began construction of a €23m facility in County Waterford, Ireland. According to the Irish Times, nine of the top 10 drug giants have manufacturing facilities in Ireland.
"This acquisition [ProsCon] along with other recent acquisitions of Propack Data, Datasweep and Caribbean Integration Engineers extends Rockwell Automation's solid foundation and strong expertise for global process and information solutions in the life sciences industry, including the rapidly accelerating biotechnology field," said Terry Gebert, vice president and general manager of manufacturing and process solutions at Rockwell.
Cork-based ProsCon said the acquisition is not going to change the company. The firm will continue to produce 'stick build' facilities, which it claims require 40 per cent shorter construction time, thus decreasing time to bring a facility on-line.
"The acquisition will strongly enhance ProsCon's ability to deliver innovative design solutions and technology to customers. By combining ProsCon's process industry knowledge with the technical expertise, broad product portfolio, distribution channels, and financial resources of Rockwell Automation, we will strengthen our ability to serve customers," said Niall Foley, ProsCon's managing director.
