A £10m investment boost is to be given to the modular construction industry, as McAvoy Group announces plans to expand its services
Modular construction is set to gain a boost after the McAvoy Group announced it was set to invest £10m in the sector, creating 38 new jobs in the process.
The company uses off-site technology in its build projects and will use the investment to expand its permanent modular construction division, replenish hire division stock, and invest in new IT infrastructure.
New jobs will be created
Jobs will be created in Northern Ireland at the Dungannon and Lisburn bases. The 38 roles are expected to be in design, contract, and cost management. Plans are also in place to recruit 14 graduates and apprentices over the next year. It is hoped the investment will help the firm to grow its turnover to £100m by 2020.
Northern Ireland’s Economy Minister Simon Hamilton said: “The company is driving forward a robust growth strategy, targeting new clients and procurement frameworks in the healthcare, education, residential and commercial markets.
“This multi-million pound investment will help the company achieve its ambitious growth targets as well as contributing additional salaries to the local economy.
Company to grow modular construction division
Eugene Lynch, managing director of the McAvoy Group, said: “This investment is focused on growing our permanent modular construction division and consolidating the company as a key player in the UK market.
“We have been successfully operating as a principal contractor in recent years and this strategic development is aimed at replicating our success in the education sector within other areas.”
An employment grant of £198,000 has also been offered by Invest NI, which will support the creation of 18 of the jobs. A further £135,000 investment from the organisation will aid with developing skills as part of the Skills Growth Programme.
Hamilton added: “The McAvoy Group is a great example of a local company achieving significant growth as a result of ongoing commitment to investment.
“With support from Invest NI’s Skills Growth Programme, the McAvoy Group is undertaking a leadership and talent management programme which will ensure its senior staff are equipped with the skills needed to deliver against the company’s growth targets.”