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07/11/2001
FP McCann invests £3m and provides new jobs
FP McCann has invested £3 million to develop pre-cast concrete products for civil engineering projects in target markets such as the Republic of Ireland in an expansion that has already provided 26 new jobs in Magherafelt.
Announcing the investment Derek Lynn, Executive Director of IDB's Industrial Products Division, said the main focus of the investment was growth through an expansion in its value added products for export markets including the Republic of Ireland and by enhancing its services to customers.
Mr Lynn said: "The company has identified strong growth potential in the Republic of Ireland for a range of new pre-cast products which will mean it will be well placed to benefit from new civil engineering contracts and from long term strategic alliances, including participation in Public Private Partnership initiatives. The company is also addressing a range of training and development opportunities arising from this investment.
"This investment represents a significant move by this family business towards a sharper focus on innovative products, while the creation of 26 new jobs is making a significant contribution to the local area.”
Commenting on the expansion, SDLP Councillor for Magherafelt, Joe McBride said: “This is good news for those employed by the company and indeed for people in the area. Twenty-six new jobs will be created which is a welcome boost for the area.
“In the midst of much uncertainty about the economy and warnings of a downturn it is great to have some good news for a change. I have no doubt that this investment will mean the company can compete for new and larger contracts. I hope it continues to move from strength to strength.”
Formed in 1947, FP McCann Ltd supplies aggregate, readymix, pre-cast and bituminous surfacing products for the building and civil engineering industries.
Employment across these businesses has doubled in the past five years to reach a current level of 136.
FP McCann Ltd has been offered Selective Financial Assistance of £250,000 by IDB towards the costs of this investment. (MB)
Announcing the investment Derek Lynn, Executive Director of IDB's Industrial Products Division, said the main focus of the investment was growth through an expansion in its value added products for export markets including the Republic of Ireland and by enhancing its services to customers.
Mr Lynn said: "The company has identified strong growth potential in the Republic of Ireland for a range of new pre-cast products which will mean it will be well placed to benefit from new civil engineering contracts and from long term strategic alliances, including participation in Public Private Partnership initiatives. The company is also addressing a range of training and development opportunities arising from this investment.
"This investment represents a significant move by this family business towards a sharper focus on innovative products, while the creation of 26 new jobs is making a significant contribution to the local area.”
Commenting on the expansion, SDLP Councillor for Magherafelt, Joe McBride said: “This is good news for those employed by the company and indeed for people in the area. Twenty-six new jobs will be created which is a welcome boost for the area.
“In the midst of much uncertainty about the economy and warnings of a downturn it is great to have some good news for a change. I have no doubt that this investment will mean the company can compete for new and larger contracts. I hope it continues to move from strength to strength.”
Formed in 1947, FP McCann Ltd supplies aggregate, readymix, pre-cast and bituminous surfacing products for the building and civil engineering industries.
Employment across these businesses has doubled in the past five years to reach a current level of 136.
FP McCann Ltd has been offered Selective Financial Assistance of £250,000 by IDB towards the costs of this investment. (MB)
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