Forklift-maker Hiab plans to spend more than €50 million building a new Irish factory that will create 100 manufacturing jobs.
Cargotec subsidiary Hiab manufactures forklifts at a plant in Dundalk, Co Louth, where it employs 300 workers. The multinational confirmed on Wednesday that it would invest €50 million in a new factory in Dundalk to make its Moffett truck-mounted forklifts.
Hiab will also immediately begin hiring 100 general operators, engineers, research and development (R&D) specialists, and quality, warehousing and planning staff.
The new jobs will add to the 300 already working for the company in Dundalk. Hiab predicted that building the new factory would employ 100 construction workers.
The Moffett business grew from a farm machinery manufacturer founded in Clontibret, Co Monaghan, by Cecil Moffett.
Moffett launched its first truck-mounted forklift in 1986. The company became part of Hiab and Cargotec in 2000, after which it was developed as a key centre for group innovation.
Rogier van der Linde, senior vice-president of Hiab, said Dundalk played a key role in the company's success.
“When completed our new facility will have world-class manufacturing capacity to service all markets globally,” he said.
“Importantly the new facility will include Cargotec’s global centre for innovation and R&D in the truck-mounted forklift segment, continuing a long and successful tradition of innovation in Dundalk.”
Mr van der Linde said Hiab was close to identifying a suitable site in the Dundalk area, and expected the new factory to begin production in 2023.
The group has pledged that its “factory for the future” will meet the highest design and sustainability standards.
Hiab is also building a a new plant in Ohio in the United States to meet demand in that market.
Demand for Hiab's forklifts is at a "record", according to the company. Dundalk will continue producing machines for the US market, but it will also feed accelerating demand in Europe and the rest of the world.
Martin Shanahan, chief executive of State agency IDA Ireland, which supports Hiab, predicted that the new jobs would boost the northeast region.
Cargotec makes cranes, forklifts and other equipment for lifting and handling heavy loads on the road, in ports and at sea. Its sales are around €3.3 billion a year.
The Tánaiste, Leo Varadkar, dubbed the Hiab announcement "fantastic news".
