The Donegal Town based Moll Industries plant is now in local ownership following a management buy out.
The plant, which specialises in molding and assembly for the medical and pharmaceutical sectors was established in 1982, and employs 25 people.
The new owners say the plant will be a key component in the growth of manufacturing in the northwest region.
Helen Masterson has been Managing Director of the Donegal company since 2002, and is now leading Moll Industries Ireland Ltd.
She says this move has secured the future of the plant and marks a major new chapter in its business. She says local ownership means management and staff are in full control of the company’s growth, and will focus on quality of delivery and technology.
She says the key priorities will be to strengthen existing operations, and identify new markets for export.’
In a statement confirming the takeover this morning, Ms Masterson says she believes local ownership of such a flourishing business can bring significant inward investment to the locality of South Donegal.