Two hundred jobs are to be created by DIY group Woodie's in a €7 million expansion that will see four new stores unveiled over the next 12 months.
The openings - at Cavan, Carlow, Clonmel and Limerick - will bring Woodie's number of outlets to 18, underscoring its determination to broaden its regional base.
The chain will breach the 20-store mark within two years, predicted chief executive Mr Ray Colman.
"It is our intention to continue to grow our market share by bringing the Woodie's product offering to key regional locations," he said.
Despite the recent entry of British DIY group B&Q into the Irish market, Woodie's continues to perform strongly. Turnover rose 15.2 per cent to €98.1 million in 2002.
The company believes the DIY market is strongly positioned to withstand the economic downturn and said sector revenues would reach €435 million this year.
Independents still account for half of the market and Woodie's is intent on consolidating its presence through aggressive growth. It has announced plans to build a flagship super-store on a 3.5 acre site on the Naas Road outside Dublin and is awaiting planning approval. Woodie's is a subsidiary of Grafton Group and employs 1,000.
Grafton recently raised nearly €70 million in a rights issue. Group chairman Mr Michael Chadwick spent nearly €8 million acquiring shares in the issue, raising his stake from 10.16 per cent to 10.28 per cent - a move described by analysts as a vote of confidence.
The rights issue was used in part to help fund the purchase of British building suppliers Jacksons for €144.2 million.
