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New Jobs Created Through €15.5 million Seafood Processing Investment

28 May 2012

IRELAND - Simon Coveney, Minister for Agriculture, Food and the Marine has announced €15.5 million of new investment by the Irish seafood processing companies, supported by grants of €3.2 million under the EU co-funded Seafood Processing Business Investment Scheme.

These investments by 21 companies are projected to generate over 142 additional jobs and increased sales of value added seafood products of nearly €44 million by 2015. The companies are based in Wexford, Dublin, Cork, Donegal, Galway, Louth and Kerry.

Minister Coveney stressed the positive effect this investment will have on the sector: "This is a very sizeable investment by any standards and particularly so when combined with investment under this Scheme over the past two years. It demonstrates the confidence in the seafood sector as a high growth area of our economy and of our food industry.

"The SMEs undertaking this very welcome new investment represent the future of the seafood industry. The new investment involves companies significantly growing their businesses and also diversifying, which will lead to increased profitability and increased employment.

"The investment also builds on the very positive announcements made earlier this week in the beef sector and the further development of trade links with China. The number of companies participating in the Scheme demonstrates the willingness of the sector to invest to meet the strong global demand for our seafood."

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