€50 million has been announced for the development of a new MOFFETT forklift factory in Dundalk.
Hiab hopes to have the so-called "Factory of the Future" opened by 2023, which will replace the existing facility in the town.
An additional 100 jobs are also being immediately created at the current factory, where the MOFFETT truck-mounted forklifts are built.
Founded by Cecil Moffett in Clontibret in 1945, and locally manufacturing MOFFETT truck-mounted forklifts since the 1980s, Moffett Engineering Limited moved production to Dundalk in 1996 and became part of the Hiab Corporation in 2000.
Rogier van der Linde, Senior Vice President for Truck Mounted Forklifts at Hiab said the investment will allow the company to continue to be a world-leader in the sector.
