Tyco International plc (NYSE: TYC) today marked the opening of its new global headquarters and business service center at One Albert Quay in Cork, Ireland, with a ceremony for more than 400 guests, including dignitaries such as Simon Coveney, Ireland's Minister of Agriculture, Food and the Marine, and Defence.
In January 2014, the company, working in partnership with IDA Ireland, announced plans to establish a global business service center and hire more than 500 employees over three years to provide consistent, efficient delivery of several processes for its businesses, including sourcing and procurement, customer service, research and development, information technology and finance. Later that year, Tyco also shifted its place of incorporation to Ireland. Approximately 250 employees are now working in the new building.
"We are extremely pleased with how quickly this impressive facility has become a reality with the help of many partners in the government, private and academic sectors in the Cork area and throughout Ireland," said Tyco Chief Executive Officer George R. Oliver. "The center is already producing strong results and has woven into the fabric of the Cork community. We look forward to becoming an employer and partner of choice in Ireland and continuing to make significant contributions as a corporate citizen."
In One Albert Quay, a prime office property created by Irish developer JCD, Tyco has linked together several technologies that reflect its strategy to help solve broader challenges for its customers and the trend toward smart connected technologies in homes, buildings, and cities. Using its Tyco On smart services platform, Tyco has integrated the control and optimization of more than 10 building functions, ranging from Tyco's core fire protection, security and asset tracking systems to features that enhance building efficiency and the comfort and convenience of employees and visitors, such as energy-saving elevator and lighting management, HVAC maintenance and smart parking.
In January of this year, Tyco and Johnson Controls announced plans to merge and create a global leader in building products and technology, integrated solutions and energy storage. Subject to shareholder and regulatory approvals, the merger is expected to close later this year, at which time Cork and One Albert Quay would become the global headquarters for the combined company, Johnson Controls plc.