Eirebloc to Invest €16m in Macroom Facility with support from Enterprise Ireland

73 New High Value Jobs to Be Created

Today (Monday 10^th September 2007) Micheál Martin, T.D., Minister for Enterprise Trade and Employment, announced that a new high potential start-up company Eirebloc Ltd is to establish a manufacturing facility in Macroom, Co. Cork.

Over the next three years, Eirebloc is to invest €16m to develop a specialist facility to manufacture composite pallet blocks from recycled wood, using environmentally sustainable methods. The project will lead to the creation of 73 new jobs in Macroom over the next 2 years. Enterprise Ireland is providing a level of support towards an initial €6m investment by the company.

Making the announcement the Minister said: “I am delighted to announce the establishment of Eirebloc in Macroom. Eirebloc is a new company, resulting from a joint venture between two Cork companies, Mid Cork Pallets Ltd and Palfab Ltd, both with strong track records of commercial success.

“This substantial investment is a significant endorsement for Macroom. Not only will it create 73 high value jobs over the coming two years, it will also lead to significant spin-off economic benefits for the region” he added

Commenting on the announcement, Richard Murphy, Manager of Regional Development, Enterprise Ireland said: “Operating in a traditional sector, Eirebloc will create a sustainable competitive advantage through innovation and technology acquisition. Using recycled wood as a raw material, Eirebloc will become one of a small number of European producers of an advanced pallet component, for which demand is steadily growing in European markets. The Eirebloc announcement is an example of the potential for innovation and technology adoption to create significant market opportunities in traditional sectors.”

Commenting on the announcement, Sean Lehane, Director, Eirebloc Ltd said: “Our Composite Pallet Block Product offers significant advantages over its sawn-wood counterpart, including unit weight, moisture content, hygiene, nail retention and unit cost, all of which will give Eirebloc a competitive edge in the international marketplace”

Commenting on the announcement Donal O’Callaghan, Director, Eirebloc said: “The Eirebloc joint venture will result in a valuable pooling of knowledge and expertise and will serve to highlight the importance of closer working ties between wood-based industries in the region.

“Eirebloc’s raw material will be sourced within a relatively local radius of the factory and our procurement policy will dovetail neatly with Cork City Council’s environmental and materials re-use models. Overall, the project will be environmentally benign, with a low Carbon footprint and no requirement to fell trees” he added.

ENDS/ETE 1783

For Further Information:

Department of Enterprise, Trade and Employment: Press Office - Tel: 01- 6312200

Enterprise Ireland Press Office, Enterprise Ireland - Tel: 01- 8082000