PennEngineering, a US firm that makes mechanically attached fasteners for industrial products, will invest €14 million in its European headquarters in Galway city that it says will support the creation of 70 jobs.
On Monday the company said the expansion of its footprint at Mervue would include the construction of a new building incorporating a technology and training centre as well as testing laboratories and a customer experience centre.
The investment, which is supported by IDA Ireland, will see PennEngineering’s headcount in the Republic grow by 70 over the next five years. The new jobs would be across different areas of the business, from manufacturing and engineering to training, it said.
“This investment reflects our confidence in the potential for growth in the region and our commitment to contributing to the local economy,” said PennEngineering Europe president Mary Ann Fleming. “Our on-site manufacturing also continues to expand with the introduction of new products continuing our 85-year history of product innovation in self-clinch fasteners.”
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Pete George, chief executive of PennEngineering., said: “Our long-standing partnership with Ireland and the IDA spans over 20 years, and its support has been invaluable in fostering the growth and development of our business in Europe.”
Minister of State for Trade Promotion Dara Calleary, who turned the sod on the new development, said the investment would advance Galway’s position as a “global hub”.
PennEngineering, which employs more than 200 people in Mervue, recently completed the digital transformation of the business, which it announced in 2021 with the creation of an additional 20 roles.
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