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HOSPIRA WILL CLOSE PLANT IN IRELAND TO CUT COSTS

August 23, 2005

Hospital products maker Hospira Inc. (HSP.N: Quote, Profile, Research) on Tuesday said it will close its medical device plant in Donegal, Ireland, within the next 18 months in a move to cut costs. The company said about 550 employees will be affected by the closure, and result in expenses of $30 million (16.7 million pounds) to $40 million over the period 2005 to 2007. Hospira expects to eventually achieve annual cost savings of about $15 million, beginning in 2008. It plans to move production to Hospira facilities in Costa Rica and the Dominican Republic, which have available manufacturing capacity to absorb the transfers, the company said.

Reuters (http://today.reuters.co.uk/news/newsArticle.aspx?type=businessNews&storyID=2005-08-23T121221Z_01_KRA343874_RTRUKOC_0_UK-HOSPIRA.xml)