Building materials group, Tegral, is planning to invest €75 million in two Irish production plants. Tegral, which manufactures slate and metal building products, said yesterday it will be investing "in the region of €75 million" in building two new plants Athy, Co Kildare.
The company is moving from its current base in the town to new 38-acre site at Srowland, around two miles from the town centre. "The investment will safeguard Tegral's market-leading position in the face of national and international competition," a statement said.
"It will also secure the future of the Tegral building products and Tegral metal forming operations, both of which will move to the new location." The company is set to lodge an application for planning permission with the local authority shortly.
Subject to this, it will begin building the new facilities next year and hopes that the work will be finished by 2009.
The new facilities will include a plant for manufacturing composite panels, which are used increasingly in building. It said this would be a natural extension of its current business.
The company's current base is on the banks of the Grand Canal close to the town.
It said yesterday that once it has relocated, it will explore the best options for the current site's future with the local authorities.
Tegral has been in Athy for 70 years and employs 369 people. It is the biggest industrial employer in the south Kildare region.
It contributes around €20 million annually to the local economy. Commenting on its plans yesterday, managing director, David Graham, said the development would introduce the most up-to-date technology to the Athy operation. Tegral is part of the Belgian Etex group which manufactures and sells building materials used in roofing, flooring, walls, clay bricks and insulation.
According to its annual report, in 2006, Etex had profits of €174 million on a turnover of more than €1.8 billion.
The figures show that its Irish and operation contributed 7.2 per cent of total turnover, which is close to €130 million.
