Around 100 new jobs are to be created by a firm manufacturing environmentally-friendly wood pallets in County Cork.

Eirebloc Ltd has announced it will be investing €16 million to develop a specialist facility to produce composite pallet blocks from recycled wood in Macroom.

Enterprise Ireland have also revealed they will be investing €6m in the company.

Minister for Enterprise, Trade and Employment Micheal Martin, said that Eirbloc is a new company, resulting from a joint venture between two Cork companies, Mid Cork Pallets Ltd and Palfab.

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"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 said.

Commenting on the announcement, Richard Murphy, Manager of Regional Development, Enterprise Ireland, said: “Operating in a traditional sector, Eirbloc will create a sustainable competitive advantage through innovation and technology acquisition.

"Using recycled wood as raw material, Eirbloc 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."

(JM)