220 Jobs Created In Food Company Expansion

Panelto Foods has announced the creation of 110 new jobs with the expansion of its facility at Longford Business & Technology Park.

The expansion work, due to begin next week, will also create 100 construction jobs in the region for the coming year.

Supported by the Department of Business, Enterprise and Innovation through Enterprise Ireland, the planned Panelto Foods expansion has been part financed by a long-term €14m debt facility through the Ireland Strategic Investment Fund (ISIF).

Welcoming the Panelto Foods expansion, Minister for Business, Enterprise and Innovation, Heather Humphreys TD said: "The expansion of Panelto Foods facility and the creation of 110 jobs in Longford, in addition to 100 construction jobs, is a hugely positive development for Longford and the surrounding areas. The company's growth is export-led, and this investment in product development and production capacity will further fuel export growth into the future."

Julie Sinnamon, Enterprise Ireland CEO added: "Enterprise Ireland is a long-standing partner of Panelto Foods, supporting the company to innovate, scale internationally and create jobs in Ireland. The company's commitment to its growth and expansion represents the vigour and ambition of Irish companies to perform and compete internationally. We are delighted to see this ambition translate into the creation of 110 additional new jobs in the town in the coming year bringing direct employment in the Panelto Foods facility to 260 people."

Cathal Fitzgerald, the Ireland Strategic Investment Fund's Head of Food & Agricultural Investments, said: "ISIF's funding to Panelto Foods is another strong example of the Fund's ability to deliver significant economic impact and employment in Ireland alongside a commercial return. Our investment will support valuable additional employment in the Midlands and strengthen a fast-growing and successful export business which has differentiated itself through market leading innovation."

According to a Panelto Foods spokesperson: "This new investment will allow Panelto Foods to meet the changing consumer needs in the market through increased production capacity, capability and innovation. The company is appreciative of the positive local support for the expansion from employees, neighbours, the business community and Longford County Council."

(MH/LM)