A US manufacturing company has announced the creation of 260 new jobs for Co Tyrone.

Terex, which makes equipment for the construction, quarrying and mining industries, will be investing £22 million (€26 million) in its operations in Northern Ireland.

The New York Stock Exchange-listed company already employs 1,100 full-time staff at its factories in Dungannon and Omagh.

The new jobs for 260 skilled workers will be filled over the next four years, with the assistance of £2.6 million in funding from Invest Northern Ireland.

Some £19.2 million will be spent on constructing a new factory and purchasing equipment, with a further £5.5 million annual spend to cover wages for the new employees.

The company will also be investing in research and development at its two factories in Northern Ireland, to support its plans for growth and new business initiatives in the region.

President of Terex Materials Processing Kieran Hegarty said the company's decision to expand would help strengthen the region's reputation as a "centre of excellence for mobile crushing and screening, from design through to manufacture and to global sales".

“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.

“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.”

Northern Ireland enterprise minister Arlene Foster described the announcement as a "boost for Northern Ireland's vibrant materials-handling sector".

“It also acknowledges the value which the Terex Corporation places on the skilled and educated workforce available here,” she said.

“As well as providing skilled employment opportunities in the local area, there is also the potential that this investment will create further skilled jobs in the Terex manufacturing supply chain.”