260 jobs in Tyrone with new £22m Terex project
Published 11/10/2013 | 01:30
A US-owned company in Co Tyrone is creating 260 new jobs in an investment worth almost £22m.
The announcement comes at the start of the Northern Ireland Investment Conference which will see representatives from potential inward investors representing 121 multi-nationals visit these shores.
Invest NI and ministers are hoping delegates at the conference will follow the US company's lead and set up bases or invest in Northern Ireland.
NYSE-listed Terex GB Ltd manufactures mobile materials processing equipment under its Powerscreen and Terex Finlay brands at factories in Dungannon and Omagh, employing some 1100 people directly and hundreds more in the supply chain.
The project includes a capital investment of £19.2m in buildings and equipment and it will represent £5.5m annually in additional salaries through the creation of the new jobs.
Invest Northern Ireland has offered Terex over £2.6m of support, towards the investments in new buildings and equipment.
Following on from an announcement of 40 jobs at Telestack in Omagh this week, the news means that there will be over 300 new jobs in an area traditionally regarded as an employment black spot.
Kieran Hegarty, president of Terex Materials Processing, said that the investment is part of long-term growth plans.
"We expect our turnover to increase further over the coming years and we will need to expand our factory space and workforce to cope with projected demand," he said. "This project will help to strengthen Northern Ireland's position as a centre of excellence for mobile crushing and screening, from design through to manufacture and to global sales.
"Our talented and committed workforce has already made a valued contribution to our success to date, and we are confident the local workforce will continue to help drive our company's growth in global markets."
Enterprise minister Arlene Foster said that Terex is one of Northern Ireland's top engineering companies.
"As we welcome over 120 senior international executives to Northern Ireland for the Investment Conference, this announcement is an excellent example of the positive experiences of existing international investors."