Minister Martin Announces €11m Investment by Cavan Based Foamalite Ltd. with support from Enterprise Ireland

26 High-Value Jobs to Be Created in Cavan

Today (Tuesday 28^th November) Mr. Micheál Martin T.D., Minister for Enterprise, Trade and Employment announced a major investment of €11m by Cavan-based Foamalite Ltd, with support from Enterprise Ireland.

The investment will lead to the development of a purpose-built R&D facility at Foamalite’s Lough Gowna site and will lead to the creation of twenty six new jobs, including five high-value R&D roles, over the next three years. The investment will also enable a significant scaling-up of the company’s production capacity with the development of a new 3,200sqm purpose-built factory.

Making the announcement the Minister said:

“Foamalite is an excellent example of an Irish company competitively manufacturing innovative high-value products for the export market. The investment in this R&D facility and new factory will enable Foamalite to develop new and innovative products and to increase capacity in response to international market demands.”

“Not only will this significant €11m investment bring high-quality employment to the Cavan region, it will also generate spin-off economic benefits for the local economy. With support from Enterprise Ireland's Scaling Division, Foamalite has the potential for significant further growth in international markets” the Minister said.

Foamalite manufactures a range of superior quality foam PVC sheets with principal applications being in the signage, display and construction sectors.