THURLES COMPANY Dew Valley Foods is to invest more than €21 million in research and development and the expansion of its current production capabilities.
The investment is expected to create 55 high-value jobs at the Co Tipperary plant.
Tánaiste and Minister for Enterprise, Trade and Employment Mary Coughlan announced the investment yesterday.
The move, which has the support of Enterprise Ireland, will lead to the construction of an RD centre at the Thurles facility, an expansion of current production capabilities and the development of a new employee skills development programme.
Making the announcement, Ms Coughlan said: "I am delighted to announce an investment of €21.8 million by Dew Valley Foods.
"The investment is an excellent endorsement of the company's well-placed confidence in its ability to compete internationally from its strategic base in Thurles.
"The food sector is a key industry in Ireland and Dew Valley is an excellent example of the type of innovative high-value-added food companies that Enterprise Ireland is keen to support. This significant investment encompasses all the elements of Enterprise Ireland's strategy for Irish businesses; it will enable international growth through innovation and enhance key employee skills and leadership capabilities.
"Not only will this investment bring 55 high-quality jobs to Thurles, it will also generate significant economic benefits for the local economy."
Jack Blake, managing director of Dew Valley, said: "Through innovation, Dew Valley has become the leading cooked bacon supplier in Europe. With this multimillion euro investment, we aim to increase our competitiveness in our modern high-tech facility and establish a new cooked bacon research centre.
"This research centre will allow Dew Valley to further innovate and develop new higher-value-added cooked bacon products. In partnership with our customers, we aim to enhance our leadership role."
Dew Valley Foods employs 160 people in Thurles.
The company started production in 1984 and is one of the largest cooked bacon manufacturers in Europe.
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