Swiss pharmaceutical giant Roche’s claims for decommissioning and demolition of its Co Clare plant have totaled €23.3 million over the past two years.
Roche Ireland Ltd posted a loss of €24.17 million last year as claims continued to mount over its decision to end manufacturing here, according to new reports.
Last year’s loss of €24.17m follows 2020’s loss of €34.55m.
The factory was once one of the Midwest’s most prominent employment sites, and in 2016 the Swiss-owned pharmaceutical giant announced its decision to close the Clarecastle factory, losing 240 jobs.
After failing to secure a buyer for its pharmaceutical site, the company closed the site and set about dismantling the fine chemical manufacturing plant to “brownfield status.”
In line with the factory closure plan, the company ceased all production in 2019 and completed all sales of its products by January 2020.
Last year’s €16.8 million decommissioning and dismantling bill follows €6.5 million in 2020 costs.
The company posted zero revenue last year compared to €5.8 million in 2020.
In addition to decommissioning and dismantling costs, the company spent a further €4.29 million on environmental costs last year.
This follows 2020’s spending of €4.82 million.
The directors said the company went ahead with a planned workforce reduction program in March 2020, with 100% of its employees leaving since May last year.
Directors say they continue to plan to decommission and dismantle the assets. The company has successfully transitioned the plant from manufacturer to construction site, with decontamination and demolition work beginning in 2020, and he expects to complete in 2026, a year behind last year’s forecast.
Last year, directors’ remuneration increased from €414,000 to €786,000.
At the end of December last year, Roche Ireland’s shareholders’ equity was €2.4 million.
Headquartered in Basel, Switzerland, the Roche Group operates in more than 150 countries and employs over 88,000 people worldwide.