A £1.4m investment by a newly-formed manufacturing firm will create more than 20 new jobs over the next three years.
Irish Manufacturing Services Ltd (IMS) plans to establish a new materials handling business in Aughnacloy and is almost exclusively targeting export markets.
IMS has bought a licence to manufacture a special machine developed by a world leader in the supply of products to the mining, recycling and construction |industries.
The licence will help the company to target international |markets.
IMS will also design and manufacture other materials handling products for a number of multinational companies.
The firm says that it has |already identified £4.2m worth of export opportunities which it will target over the next three years.
Invest Northern Ireland offered IMS £140,000 to support the set up of the business which will create 22 new jobs by 2014, generating £570,000 in annual salaries.
Enterprise Minister Arlene Foster said that the investment will create valuable employment opportunities in an industry that has been severely impacted by the global recession.
“The 22 new jobs covering a variety of roles including management and supervisory positions will help to boost the local economy,” she said.
“Supported by Invest NI, the company will work towards developing its capabilities and resources so that it can effectively exploit the £4.2m of sales opportunities it has identified across export markets.”
Patrick McMeel, sales director of Irish Manufacturing Services, added: “In the wake of the global economic downturn, we recognised the resurgence in demand for mobile products needed for smaller-scale projects and established IMS to capitalise on these opportunities.
“We have worked hard to cultivate close links with our global partners and these relationships will be critical to the development of our business in the short to medium term.
“We aim to build up our reputation within the materials handling sector and develop strong business partnerships across international markets.”
The firm is manufacturing a number of different products for use in the construction trade including conveyors, crushing and screening machines and |shredders.
IMS is currently operating out of a 3000sq m factory at Armaghlughey Road in Aughnacloy.