A Tipperary food firm has been granted almost €22m to build a new research and development centre at its Thurles base.

The announcement, made by Enterprise Minister Mary Coughlan, will allow Dew Valley Foods, to also expand current production capabilities and develop a new employee skills development programme.

The investment will lead to the creation of 55 new high value jobs at the Thurles plant.

Minister Coughlan said: "The investment, with the support of Government from Enterprise Ireland, is an excellent endorsement of the company's well placed confidence in its ability to compete internationally from its strategic base in Thurles.

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"This significant investment encompasses all the elements of Enterprise Ireland's strategy for Irish businesses; it will enable international growth through innovation and enhances key employee skills and leadership capabilities.

Jack Blake, Managing Director of Dew Valley, said: "This research centre will allow Dew Valley to further innovate and develop new higher-value added cooked bacon products. In partnership with our customers we aim to enhance our leadership role."

Commenting on the announcement, Derek Breen, Head of the Meat Division at Enterprise Ireland said: "Enterprise Ireland is working closely with Dew Valley to increase competitiveness and export capability.

"This investment in the new R&D centre and the enhanced production capacity will enable the company to implement a new strategy based on developing new higher-value added products and responding quickly and innovatively to changing consumer demands internationally," he added.

(PR)