A Ballymena-based beef and lamb company is to invest over £1.25m in new production facilities.

Doherty & Gray said its plans to increase production would create up to ten new jobs.

Bank of Ireland has provided £750,000 in funding, with £500,000 coming from the European Agricultural and Forestry Processing & Marketing Grant (PMG) Scheme, which is delivered by the Department of Agriculture and Rural Development.

The expansion will increase production by 80% and enable the company to deliver much larger retail contracts to customers including several major UK retailers.

The firm said its new production facilities will support plans to increase retail market share of its sausage and burger brands.

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Seamus Doherty, a director of the company, said Bank of Ireland was willing to work closely with the firm and look at different options to help fund the project.

"In addition to competitive borrowing rates, their knowledge of our industry was an important factor in our decision to select them as our banking partner," he said.

Alastair Kane, Business Centre Manager, Bank of Ireland, Ballymena said it is exciting to see a local business with ambitious plans for further export and growth on a national scale.

"This deal is testament to Bank of Ireland’s commitment to supporting businesses in Northern Ireland as they expand, providing positive contributions to the local economy and jobs market."

Pauline Keegan, Director of Rural Development, from the Department of Agriculture and Rural Development added: "This is a key development in the Northern Ireland Agricultural sector which allows this successful local business to increase its production capacity and supply several of the major retailers in the UK market."

(PR/GK)