The planned £2 million sterling (€3.13 million) expansion of a Northern Ireland-based company will provide 110 new jobs over the next three years. Roll Formed Fabrications Ltd, a wholly-owned subsidiary of the Henry Group, says the expansion is part of a strategic bid to diversify into Britain and other markets.

Sir Reg Empey, Minister of Enterprise, Trade and Investment, said the investment would increase its capability to compete for business "particularly in export markets".

The company currently provides composite insulated panels, roof-sheeting and structural steel to the local construction industry.

The expansion will see it increase volume production in its Magherafelt, Co Derry factory where items such as en-suite bathrooms are made ready for contractors to install directly into hotels or other large buildings.

"Roll Formed is one of the first to offer this service in the British Isles and will also benefit from experience gained from the introduction of 'fast-track' building techniques that are becoming increasingly popular with builders," said Sir Reg during a visit to the plant.

"In addition, the company intends to develop its knowledge base by investing in marketing and new product development. Government support for the company reflects our overall commitment to encourage enterprising businesses to identify and exploit market opportunities outside Northern Ireland."

Ms Maureen McMullan, managing director of Roll Formed Fabrications, said the investment demonstrated the company's adoption of one of the key recommendations made in a recent study of the construction industry. "We are essentially using our manufacturing knowledge to offer an additional product and a new service to an industry which is facing increasing pressures from customers for faster construction of buildings," she said.

Earlier this year, the company received £385,000 from the former Industrial Development Board towards the cost of the investment.