GP Wood announces €14 million Capital Investment

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GP Wood announces €14 million Capital Investment
Pictured Niall Grainger, MD of GP Wood and Michael Creed T.D. Minister for Agriculture, Food and the Marine at the announcement in Cork. West Cork timber manufacturing company, GP Wood, has announced a €14 million capital investment programme for its plant at Enniskeane.  The investment will fund an enhanced product range, increase plant capacity and create an additional 27 direct and indirect jobs, according to the company. Created through the 2013 merger of the Grainger and Palfab family enterprises, West Cork based GP Wood has a turnover of €49 million with exports of €21 Million. GP Wood employs 133 staff with a further 242 indirect employees in their forestry operations.  In 2015 GP Wood contributed more than €16 Million to the Munster economy.
Pic Daragh Mc Sweeney/Provision

Posted on: 8th November, 2016

Category: Headlines

Contributor: West Cork People

Pictured: Niall Grainger, MD of GP Wood and Michael Creed T.D. Minister for Agriculture, Food and the Marine at the announcement in Cork.

West Cork timber manufacturing company, GP Wood, has announced a €14 million capital investment programme for its plant at Enniskeane. The investment will fund an enhanced product range, increase plant capacity and create an additional 27 direct and indirect jobs, according to the company.

Created through the 2013 merger of the Grainger and Palfab family enterprises, West Cork based GP Wood has a turnover of €49 million with exports of €21 Million. GP Wood employs 133 staff with a further 242 indirect employees in their forestry operations. In 2015 GP Wood contributed more than €16 Million to the Munster economy.

The company’s timber manufacturing is focused on the construction, fencing, garden leisure and packaging markets. GP Wood operates two of Ireland’s largest and most technologically advanced sawmills with state-of-the-art facilities for Kiln Drying, Machining and Timber Treatment.

Since the merger, GP Wood has invested €6.3 million in upgrading its facilities in Lissarda and is now embarking on an ambitious plan to invest a further €14 Million in improving its operations in Enniskeane.

In 2005, GP Wood constructed Irelands first large scale commercial biomass CHP plant producing 2.2 MW of electricity, which is sold to the national grid, and 6 MW of thermal energy.

On October 24, Michael Creed TD Minister for Agriculture, Food and the Marine visited the Enniskeane plant. Speaking during the visit, Niall Grainger, managing director of GP Wood said he was very excited about the opportunities that the investment would open up.

“In light of the significant volumes of private forest due to come on stream in the South West of Ireland in the very near future, I am fully confident that this new investment will drive GP Wood’s growth and development and it’s very fitting that the plant will be in operation on the 40Th anniversary of the founding of the original Grainger and Palfab companies.

“This investment is an acknowledgement of the contribution of our team in Enniskeane and Lissarda, which made the merger a resounding success, these things do not happen without a great deal of effort on the part of everyone. This multi million Euro investment is a very positive sign of confidence in our team and the future of the forest products industry in Ireland.

GP Wood would like to acknowledge the contribution of Coillte, Bank of Ireland and Enterprise Ireland to its success since 2013,” Mr. Grainger said.

Commenting on the investment, Minister Creed said: “The commitment shown by GP Wood to continued development and innovation bodes well for their continued success. GP Wood is an important employer in the West Cork region and I wish them continued success in to the future. This significant investment is a real vote of confidence in the Irish timber industry and indeed a further boost to the region from an employment point of view”.

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