US-based Elanco Animal Health acquires collapsed Liverpool pharmaceutical plant TriRx Speke in £20m deal that safeguards around 300 jobs. Tony McDonough reports
A £20m buyout deal has secured around 300 jobs at the TriRx Speke manufacturing plant which collapsed into administration in September.
US-based Elanco Animal Health has swooped in to buy the plant in south Liverpool. TriRx is a crucial part of Elanco’s supply chain, supplying a number of farm animal product lines that generates more than £100m in revenues a year.
This deal will come as a relief to Liverpool City Region Metro Mayor Steve Rotheram as TriRx was an key element in of a plan to create a £320m life sciences Investment Zone. The company had announced a £10m investment into the facility.
He said on Monday: “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.”
TriRx operates one of the UK’s leading sites for fermentation-derived products, developing and manufacturing active pharmaceutical ingredients for the veterinary industry. It said its its problems had stemmed from a “current situation with its core customer”.
Grace McArdle, Elanco executive vice president, manufacturing & quality, added: “This acquisition removes the immediate threat of closure from the site and protects approximately 300 highly skilled employees.
“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.”
Elanco will assume site ownership, effective immediately, working closely with the site leadership to support site operations.
It is a global leader in animal health “dedicated to innovating and delivering products and services to prevent and treat disease in farm animals and pets”.