Write a comment
Newry contractor McGuinness Mechanical Engineering (MGME) is set to double its turnover and increase exports by almost £11million.
MGME is investing £3.5million to create 28 new high-quality jobs, doubling its workforce enabling the company to grow its maintenance division and increase sales in the Republic of Ireland.
Making the announcement during a visit last week, Economy Minister Dr Caoimhe Archibald said: “This £3.5million investment is a transformative step for MGME and a significant boost for the Newry region. Thanks to Invest NI’s ongoing support, MGME is now equipped to strategically compete for larger contracts allowing the company to double its turnover and increase its sales to the south of Ireland by almost £11million.
“Creating a regionally balanced economy with more high-quality jobs are key pillars of my economic vision. This investment will not only create 28 high-quality jobs, generating £1.5million a year in wages for the Newry region but will also provide an estimated £250,000 annual boost to the local supply chain.”
McGuinness Mechanical Engineering is a heating and plumbing contractor offering the full design, supply and fit of mechanical services on residential, commercial and industrial projects.
The new roles will enable the company to increase productivity by working on larger-scale projects. This will provide economies of scale, enable better planning and cost control.
Thomas McGuinness, Managing Director at MGME, said: “Our vision is to become a leader in Ireland’s mechanical engineering industry. We’re excited to make this investment and step into that vision by growing our business and increasing our sales in Ireland.
“Invest NI has played a key part in our journey, helping us strengthen our business to enable us to grow. Through its leadership and supply chain programmes, we’ve refined our strategic direction, accessed expert advice and increased our resilience. We are now set for growth, and we look forward to realising our strategy.”
The new jobs, which include a range of senior managerial and operational roles such as Contracts Managers and Mechanical Operatives, have an average salary of £54,250.
George McKinney, Executive Director at Invest NI, said: “We’ve worked closely with MGME for over 10 years, supporting the business to scale through leadership and capability development, and to boost its supply chain resilience. We’ve also provided vital trade support to explore opportunities for growth in the Republic of Ireland.
“Our ongoing support has helped position MGME to make this investment which will boost productivity and enable it to make its growth ambitions a reality through exporting.”
Newry and Armagh MLA Liz Kimmins has welcomed the investment: “I welcome today’s announcement from Sinn Féin Economy Minister Caoimhe Archibald, and congratulate MGME on its exciting expansion,” said the Newry and Armagh MLA.
“This is great news for Newry - creating more good-quality jobs in our community and providing a significant boost to the local economy.
“It also reflects the huge potential of our all-island economy, with cross-border trade and opportunities continuing to flourish under Minister Archibald.
“Newry is perfectly placed as an all-island engineering hub to continue attracting investment and enabling businesses to grow.
“This investment demonstrates what can be achieved when local businesses are backed with the right support, and it reinforces the importance of regional development that delivers for towns like Newry.
“Sinn Féin will continue working to drive forward regional balance and economic growth to deliver real opportunities for all our people right across Ireland."
To find out more about Invest NI’s support for businesses, visit investni.com
