ABP Food Group has today (Thursday) announced the completion of a €50m investment in the redevelopment of its production facilities in Cahir, Co Tipperary, with 152 new jobs created as a result. The redevelopment includes an extension and upgrade of the company’s current food processing facilities as well as the introduction of a new state-of-the-art gel bone production plant at its neighbouring by-products site.

ABP has two facilities in Cahir – a beef/food processing plant and a neighbouring animal by-products plant. The food processing plant comprises an abattoir, deboning facility, packaging plant and a cold store. The animal by-products plant includes the new added value Gelatine Bone Chip production unit.

Speaking at the announcement, ABP Food Group chief executive Paul Finnerty said the economic impact of the investment will benefit both the local and wider rural economy.

“This is a world class facility serving Irish Beef Europe wide. Our investment, the largest ever by an Irish beef business, helps underpin over 600 jobs and contributes to helping deliver on the vision of Food Wise 2025,” added Finnerty.

A study by Oxford Economics and KPMG estimates that the re-developed ABP facilities will contribute €209m per annum to the economy or €1bn over the next five years. The majority of this economic benefit is likely to be in Tipperary and surrounding counties.

Speaking at the announcement, An Taoiseach Enda Kenny TD said the investment made by ABP in its Cahir facilities is another sign of the progress, momentum and confidence in the Agri-food industry.

"The ABP facilities in Cahir, Tipperary, are state-of-the -art, reflecting the significant investment made. I'm delighted that Government was able to support this investment, in a collaboration of state and private sectors, which is essential to ensure future growth and success."

IFA President Eddie Downey welcomed the investment saying it was “very positive”. He added that it will underpin Ireland’s agri-strategy and capacity to service the higher value UK and EU markets, which is essential in returning viable prices back to farmers.

ABP directly employs 615 people at its Cahir site while supporting a further 1334 jobs in the wider economy. The meat processor has had a presence in Cahir since 1973 when it started out with just 43 employees. Since then the group has invested over €100 million in its production facilities there.