Eye-care company Bausch & Lomb is to create 50 new jobs over the next 18 months as part of a €41 million investment at its Waterford facility.

The group, which announced 200 job cuts earlier this year, said the IDA-supported investment would provide the facility with next generation contact lens manufacturing technology, high-speed packaging equipment and an efficient energy generation system.

J Michael Pearson, chairman and chief executive of Bausch & Lomb's parent, Valeant Pharmaceuticals said the announcement confirmed the company's commitment made earlier this year to continue to invest in the facility.

“(The) Waterford site will continue to play a very important role in our strategy to rebuild Bausch and Lomb as one of the leading contact lens producers. The Waterford facility is a first class manufacturing site for contact lens manufacturing and distribution and with the new contact lens manufacturing lines, the added capacity will support both current and future demand.

In June, workers voted at the facility in favour of a controversial cost-cutting proposal that involved the loss of 200 jobs and pay cuts of about 15 per cent and roster changes, after the company threatened to close the plant. Bausch & Lomb is the largest private sector employer in the southeast.

Damian Finn, general manager at the facility, welcomed the new investment: "The commitment to Bausch & Lomb's operations here is welcome and will enable us to take advantage of the opportunities that are emerging in the contact lens and vision care sector in the coming years," he said.

“ Our employees have implemented a substantial programme of change over the last six months and we are now in a position to gain from the resulting increased competitiveness. I believe that we now have a more sustainable operation and I am looking forward to the coming years as a time of great opportunity and significant growth.”