Modern Tyres plans new £5.6m factory at Newry business park
Northern Ireland's biggest independent tyre firm has announced plans for a £5m-plus factory in Newry.
Modern Tyres says it has identified a niche in the market for quality wheel and rim mounting products for lorries and agricultural vehicles.
It has submitted a planning application for a 83,000 sq ft manufacturing facility at Carnbane Business Park.
As well as rim/tyre manufacture, the centre will be geared toward the refurbishment of wheel rims.
Industry monitor Construction Information Services has valued the project at an estimated £5.6m.
Modern Tyres already operates on a site within the industrial estate, which is owned by Invest NI.
The plans include office and welfare facilities, yard storage areas and site works.
Please log in or register with belfasttelegraph.co.uk for free access to this article.
Documents submitted alongside its application to Newry, Mourne and Down District Council last month indicate that between 35 and 45 staff will be based at the factory.
Public consultation events to provide information have already taken place in Newry.
Local firm Gray Design is involved architecturally.
Set up by Dublin-native Jimmy Byrne in Co Fermanagh in 1965, Modern Tyres has continued to expand.
Its portfolio now includes 30 branches here and another 10 ov er the border.
Mr Byrne stepped down as a director in December 2017. Four of his sons - Connor, Rory, Shane and Niall - now largely run the business.
The latest company accounts released by Modern Tyres showed a turnover of £22.4m for the year ending December 31, 2017, up from £20.9m.
Annual pre-tax profits have remained around £2.2m for the last two reporting periods, with staff numbers growing from 138 to 142.