The 1989 State archives give a glimpse into Ireland's business world 30 years ago
Image: PA Archive/PA Images Image: PA Archive/PA Images THE YEAR IS 1989. The Berlin Wall has fallen, Nasa’s launched its Galileo spacecraft and Nintendo’s Game Boy is hitting shop shelves.
A £21 million investment in Fruit of the Loom in Donegal and pharmaceuticals company Servier opening a £3 million factory had started the ball rolling, the previous year. Intel’s plan for its European headquarters was announced in October, with the IDA and the US company announcing its plan to invest £250 million into the Leixlip facility. At the time it was the “biggest ever investment” in the Irish electronics industry.
Once the facility was completed, it was expected to employ 320. The company would go on to employ 1600 people in Ireland but was hit in 1998 when Nokia took over as the top mobile phone producer. In 2001 the plant was completely shut down.Dublin-based IFSC was set up in 1987 but ‘89 saw German bank Commerzbank join the institution at Custom House.
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