Before the Dáil broke up for the summer & following speculation locally, I raised the issue of the merger of the companies Medtronic & Covidien with Minister Richard Bruton. (see link below)
Both Medtronic & Covidien employ staff in Ireland and there is a fear locally that this could have implications for employment on the three sites at Athlone, Tullamore and Galway.
Minister Bruton responded by stating that “IDA Ireland has ongoing close relationships with both Medtronic and Covidien both in Ireland and in the United States. The Agency informs me that it will continue to engage with all parties to endeavour to influence a positive outcome for Ireland as the structure of the merger develops and decisions are made”.
He went on to state “I understand that completion of the transaction is subject to the approval by both Medtronic and Covidien shareholders and requires regulatory clearances in the U.S., the E.U., China and certain other countries. The transaction is expected to close in the fourth calendar quarter of 2014 or early 2015. The combination of Medtronic and Covidien’s highly complementary product portfolios will allow the combined entity to address device needs in virtually every major device segment and I will seek to ensure that potential opportunities which may be developed for the Irish plants are rigorously pursued”.
We’ll have to keep a close eye on this merger but let’s hope that is brings with it additional jobs and not layoffs!
Link to Dáil reply: https://www.kildarestreet.com/