1. GE Healthcare $138m Irish expansion
Cork, Ireland – February 7, 2025 – GE Healthcare has announced a significant investment of $138 million to expand its contrast media manufacturing facility in Carrigtohill, Cork. This expansion aims to address the growing global demand for contrast media, which are essential for enhancing the visibility of organs, blood vessels, and tissues during medical imaging procedures such as X-rays and CT scans.
The new state-of-the-art facility will be built on the grounds of the existing site and is expected to be operational by the end of 2027. Once completed, it will enable the production of an additional 25 million patient doses of contrast media per year. This expansion is part of GE Healthcare’s broader strategy to increase its manufacturing capacity and ensure a resilient and flexible supply chain for its products.
Kevin O’Neill, President & CEO of GE Healthcare’s Pharmaceutical Diagnostics segment, emphasised the importance of this investment: “As an industry leader, we have a responsibility to meet the growing global demand for contrast media from healthcare providers and their patients. This new facility demonstrates our commitment to addressing future demand while increasing the resiliency and security of industry supply for our customers.”
Eugene Barrett, Site Leader and Managing Director of GE Healthcare Ireland, highlighted the benefits of the expansion for the local community: “This investment strengthens our longstanding presence in Cork, where we have a highly skilled team and access to leading talent in the pharmaceutical industry. It also reinforces our strong distribution links around the world and our great partnership with IDA Ireland.”
The global demand for iodine-based contrast media is expected to double in the next decade, driven by aging populations and the increasing prevalence of chronic disorders. In 2024, GE Healthcare’s Carrigtohill facility, along with its other production sites in Shanghai, China, and Oslo, Norway, supplied over 100 million patient doses of contrast media worldwide.
This expansion will not only cater to the growing demand but also support both established and pipeline products. The new 3,000 square meter facility will include advanced automation systems, solution preparation vessels, multi-functional powder handling systems, a new filling line, and autoclaves.
With this investment, GE Healthcare is poised to enhance its manufacturing capabilities and continue providing life-saving imaging contrast media to patients around the globe.
2. Basin Energy secures Swedish project licence
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Basin Energy, an exploration and mining services company, has successfully secured a government-approved licence for the Trollberget project in northern Sweden. This new licence, granted by the Swedish Mining Inspectorate, provides Basin Energy with exclusive exploration rights for the Trollberget area for a three-year period.
The Trollberget project significantly expands Basin Energy’s exploration land by 116km², bringing its total landholdings in the Arvidsjaur-Arjeplog uranium and green energy metals district to 219km². This strategic acquisition is positioned between the company’s existing Björk and Rävaberget projects, enhancing the potential for discovering valuable mineral resources.
In late 2024, Basin Energy conducted initial field assessments at the nearby Virka, Björk, and Rävaberget projects. Despite limited historical exploration, these areas have shown promising signs of base metals, gold, silver, and uranium. The company’s 2024 program included logistical access reviews, initial outcrop mapping, and reconnaissance sampling, with results expected in the first quarter of 2025.
Pete Moorhouse, Managing Director of Basin Energy, expressed his excitement about the new licence: “Basin is thrilled to have its application for the Trollberget project approved. The field identification of structural controls at Björkberget, which disappear under a thin glacial cover, provides a compelling narrative for the prospectivity of the Trollberget project. Historic exploration work was heavily restricted to outcrop, and the potential for further hidden mineralisation beneath this thin cover is interpreted to be very high.”
This new licence not only doubles Basin Energy’s uranium holdings in Sweden but also strengthens its position in the green energy metals sector. The company continues to focus on exploring and developing projects that contribute to sustainable energy solutions.
3. JBS Texas and Colorado $200m expansion
JBS USA, a leading global food company, has announced a significant $200 million investment to expand its beef production facilities in Cactus, Texas, and Greeley, Colorado. This strategic move aims to enhance production capacity and improve efficiencies at these key locations, further solidifying JBS’s presence in the US beef industry.
The investment includes $150 million allocated to the Cactus facility and $50 million to the Greeley plant. In Cactus, the funds will be used to construct a new, state-of-the-art fabrication floor and an expanded ground beef room. Meanwhile, the Greeley facility will see the addition of a new distribution center.
Wesley Batista Filho, CEO of JBS USA, emphasised the company’s commitment to the US beef industry and the American farmer. “We believe now is the time to invest in the United States, and we are excited about what the future holds,” he said. “Today’s announcement demonstrates our commitment to the U.S. beef industry and the American farmer and rancher.”
The expansion is expected to create new opportunities for cattle producers, consumers, JBS team members, and the broader rural communities where the plants are located. The Cactus facility, located in the Texas Panhandle, employs over 3,700 team members and partners with multiple cattle producers, paying $2.9 billion for livestock each year. The Greeley facility, situated in Northern Colorado, employs more than 3,800 team members and partners with over 175 producers, paying $3.1 billion for livestock annually.
Local representatives have praised the investment for its potential to boost the local economy and support the agricultural sector. U.S. Representative Ronny Jackson highlighted the benefits for the Texas Panhandle, stating, “This expansion will improve production capacity for our ranchers and cattle feeders and bring much-needed efficiencies to the facility.” Similarly, U.S. Representative Gabe Evans commended JBS for its continued investment in Weld County, Colorado, noting that it ensures the prosperity of local businesses and cattle producers.
In addition to the facility upgrades, JBS has been actively supporting its communities through various initiatives. Since 2020, the company has invested over $15 million in the Cactus and Greeley communities, funding projects such as an aquatic center, park renovations, and affordable housing developments.
With construction set to begin in 2025, JBS’s $200 million expansion underscores its dedication to strengthening the US beef supply chain and maintaining the competitiveness of American agriculture.
4. Maxflow export goals with new funding
Maxflow, a Northern Ireland-based manufacturer of industrial pressure washers and power products, is set to expand its operations and enter new export markets, thanks to a significant new funding package. This financial boost comes from Ulster Bank and is guaranteed by UK Export Finance (UKEF), the government’s export credit agency.
A Strategic Partnership
The partnership between Ulster Bank and UKEF marks a milestone as it is the first time these two entities have collaborated to issue a trade loan facility for a Northern Ireland business. The loan facility, guaranteed through UKEF’s General Export Facility, aims to provide Maxflow with the working capital needed to scale up its operations and meet the demands of new markets.
Driving Growth and Expansion
With over 25 years of industry experience, Maxflow has established itself as a reliable supplier in the competitive market of industrial pressure washers and power products. The new funding package will enable the company to manage cash flow more effectively, maintain high stock levels, and ensure consistent availability for its customers.
Ryan Wylie, Managing Director of Maxflow, expressed his excitement about the company’s growth prospects: “Expanding into new geographical markets is a transformative step for Maxflow. The support from Ulster Bank and UK Export Finance has been crucial in helping us seize this opportunity. Our commitment to exceptional customer service remains at the heart of everything we do, and this funding will help us deliver exactly what our customers need, when they need it.”
Infrastructure Investment
In addition to expanding its market reach, Maxflow is also investing significantly in its infrastructure. A new factory is currently under construction, with phase one expected to be completed by 2025. This facility will consolidate operations, streamline logistics, and enhance efficiency, supporting Maxflow’s long-term growth plans.
A Bright Future
The collaboration between Ulster Bank and UKEF is a prime example of how strategic financial support can boost the confidence of SMEs in Northern Ireland to achieve their growth ambitions. Liz McCrory, UKEF Export Finance Manager, highlighted the importance of this partnership: “We are proud to support Maxflow as they build on their success. UKEF’s collaboration with Ulster Bank in this working capital finance deal is a prime example of how our General Export Facility can boost the confidence of SMEs in Northern Ireland to achieve their growth ambitions and venture into new export markets.”
With this new funding package, Maxflow is well-positioned to capitalise on new opportunities and continue its trajectory of growth and success in the global market.
