Enterprise, Trade and Investment Minister Jonathan Bell has announced the creation of 16 new jobs at Lagan Engineering Limited in Cookstown.
The significant investment will set the company on course to double its turnover in the next two years.
The company, which currently employs 33 staff, designs and manufactures custom-built products for the sand, quarry, waste and recycling industries. The investment has enabled it to extend its workshop space, install new plant and machinery, undertake marketing activities and strengthen its workforce through the recruitment of key posts and skilled workers.
Speaking during his visit to the company, Jonathan Bell said: “This bold investment by Lagan Engineering Limited, supported by Invest Northern Ireland, will enable the company to consolidate its success to date and strengthen its long-term viability.
“The new jobs will contribute £345,000 annually to the local economy and expand the manufacturing skills base in the Tyrone area. They include key management posts that will help guide the company as it moves to the next level.
“Growing and strengthening our indigenous manufacturing businesses is a priority for my department and for Invest NI. Manufacturing businesses account for 16 per cent of all local economic output and for one in every nine local jobs.
“Companies like Lagan Engineering Limited play an important role within the supply chain of our highly successful materials handling sector by providing a high quality, cost-effective manufacturing service.”
Invest Northern Ireland has offered the company assistance of £134,250. 11 of the 16 jobs are already in place.
Brian Lagan, Managing Director of Lagan Engineering Limited, said: “This investment will allow us to expand and diversify over the next two years. With new workspace and an operations manager, a design engineer and a quality manager in place, we are confident that we can achieve significant turnover growth and increase our level of exports.
“The support from Invest NI is crucial to enabling us to gear up for new market opportunities and expand our customer base.”