Accelerating market reach: Prodieco's strategic acquisition and global vision

Prodieco, founded in 1962, has a rich history in the engineering and manufacturing sector. Initially focused on precision tooling, the company later transitioned to specialize in blister packaging tooling for the pharmaceutical industry.

Over the decades, Prodieco has grown from a small Irish enterprise to a global leader, known for its commitment to quality and innovation. Their continuous investment in research and development has enabled them to provide cutting-edge solutions to clients worldwide, solidifying their reputation in the pharmaceutical packaging market.

David Flanagan, Director of Business Development at Prodieco, began his journey with the company in 1998 as a toolmaker. At that time, the company employed around 70, with only 3-4 focused on blister tooling, while the majority served the electronics industry. However, competition from China caused the company to lose its electronics business. “We had no choice but to survive, we had to go looking for other business,” said David. 

To survive, they shifted their focus and strategy, coinciding with the launch of cheap Ryanair flights which allowed them to travel across Europe to find new customers in countries like Belgium, Germany, Italy, France, Spain, and the UK. The workforce shrank to about 30 employees at one point but then began to grow again as the company decided to concentrate entirely on producing format parts for blister packaging machines, completely changing their industry, customer base, and product line.

Exporting success 

Prodieco now employs 280 people, and exports to over 60 countries globally from their two facilities in Dublin. Alongside the Prodieco team’s dynamism, Enterprise Ireland’s involvement has been critical to opening up new markets. 

“Enterprise Ireland really gave us terrific support and still do,” said David. “If we’re looking at a new market, typically we'll reach out to Enterprise Ireland for help. They will have already existing contacts into the pharmaceutical industry.” 

In the case of Germany, for instance: “Enterprise Ireland supported us with visits to the customer site, organised the meetings for us, went along with us, made sure that the follow up was done correctly. If there was any translation issues or struggles to communicate in any way, Enterprise Ireland would facilitate that, whether it be in German or French. So the support has been there from the very beginning and taken all sorts of forms,” said David. 

Enterprise Ireland regularly organises events attended by companies like Prodeco to provide excellent networking opportunities: invaluable for fostering connections and expanding the business network, according to David. 

Expansion stateside through acquisition 

David emphasized Prodieco's transformative impact on the pharmaceutical industry, particularly in providing a faster and more cost-effective alternative to original equipment manufacturers (OEMs) for blister pack machine format parts. By significantly reducing lead times from 20 weeks to 6-8 weeks, Prodieco enabled pharmaceutical companies to bring products to market more quickly and efficiently.

“We’ve had a really positive impact on the industry. We gave our customers an alternative source,” said David. “We really broke in at that right moment and at the right time, and changed the face of the pharmaceutical industry globally and we're now really, I would say, globally recognized. We offer them a really valuable alternative outside of the OEM, less expensive, and with a high level of customer service and customer care.” 

On 1 July 2024, Prodieco announced its agreement to acquire the assets of GEMEL Precision Tooling, based in Ivyland, Pennsylvania, USA. GEMEL, with over 40 years of industry experience, is a leading provider of bespoke precision engineering solutions to the life sciences sector in North America. This acquisition will bolster Prodieco's manufacturing capabilities in the Americas, allowing for market-leading customer service and delivery times across North, Central, and South America. The acquisition is significant in strengthening Prodieco's presence in key markets and providing a platform for future development opportunities.

David is setting his sights on using the same strategy to break into new markets in South East Asia and China: “most likely we'll do more of these sort of activities. Basically, find a local company and use that same approach: local service, local manufacturing and getting the tools to the customer quickly.”