New research facility for Cavan

An €11m investment in a research facility in Cavan will create 26 jobs, it was confirmed today.

Foamalite’s production capacity will be increased with the building of a new 3,200 square metre factory and the purpose-built research and development facility at the company’s Lough Gowna site.

Enterprise Minister Micheal Martin 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.”

Foamalite, which currently employs 57 people, manufactures a range of foam PVC sheets for signs, display and the construction sectors.

The development of the factory and R&D facility will result in 26 jobs, including five high-value research roles, over the next three years.

The Cavan-based company, established in 1997 by Chris and John Reilly, sells 95% of its product in overseas markets via a network of distributors covering the UK, France, Germany, Spain, Italy and Poland.