A French manufacturing company is to provide 60 new jobs over the next five years in a £7 million (€8.8 million) investment in Ballinasloe, Co Galway.

Valois, a market leader in dispensing systems for the pharmaceutical, perfumery and cosmetic industries, has an existing Irish base, Caideil M P Teoranta in Tourmakeady, Co Mayo. It employs 80 people and is supported by Udaras na Gaeltachta.

Ballinasloe has been badly effected by the decision earlier this year of AT Cross, the pen manufacturer, to cut its workforce. A dispute has yet to be resolved in the Dubarry shoe factory.

Valois is purchasing a site at IDA Ireland's new business park in the town and will construct a 40,000 sq ft customised plant. Valois is now a subsidiary of the Aptar Group in the US. Valois employs 1,700 people at three plants manufacturing facilities in France, and in finishing operations in the US, Brazil and China. Its customers include L'Oreal, Sanofi, Schering and Servier and it reported sales of £206 million and profits of £35 million last year.