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Over 140 new jobs to be created as Coveney announces €15.5 million in new investment in seafood processing industry

Simon Coveney, T.D. Minister for Agriculture, Food and the Marine today announced €15.5 million of new investment by the Irish seafood processing companies, supported by grants of €3.2 million under the EU co-funded Seafood Processing Business Investment Scheme. These investments by 21 companies are projected to generate over 142 additional jobs and increased sales of value added seafood products of nearly €44 million by 2015. The companies are based in Wexford, Dublin, Cork, Donegal, Galway, Louth and Kerry.

Minister Coveney stressed the positive effect this investment will have on the sector: "This is a very sizeable investment by any standards and particularly so when combined with investment under this Scheme over the past two years.  It demonstrates the confidence in the seafood sector as a high growth area of our economy and of our food industry. The SMEs undertaking this very welcome new investment represent the future of the seafood industry. The new investment involves companies significantly growing their businesses and also diversifying, which will lead to increased profitability and increased employment.  The investment also builds on the very positive announcements made earlier this week in the beef sector and the further development of trade links with China. The number of companies participating in the Scheme demonstrates the willingness of the sector to invest to meet the strong global demand for our seafood".

 The scheme is administered by BIM and information is available on BIM's website www.bim.ie . Further information is available in the Notes to Editors below.

Notes to Editor:

Today's announcement follows previous investment under the Scheme of €7 million by 21 companies in 2011 and €2.7 by 8 companies in 2010.  Together these developments are setting a clear path to achievement of the potential of the seafood sector to create value added seafood products, as identified in Food Harvest 2020 and Action Plan for Jobs 2012.  The Food Harvest 2020 strategy targets revenue growth in the seafood sector as a whole of €300 million by 2020, with employment capable of increasing by 3,000 in that period.

The Seafood Processing Business Investment Scheme is implemented as part of the Irish Seafood Development Programme 2007-2013.  Grant aid is a maximum of 25% of eligible expenditure and is co-funded on a 50/50 basis by the Exchequer and the European Fisheries Fund.  The Scheme is implemented by BIM and Údarás na Gaeltachta, with Enterprise Ireland assisting in commercial evaluation of proposals.  Proposals are assessed by BIM for compliance with EU and national law and project selection criteria approved for the Scheme by the EU mandated Monitoring Committee for the operational programme.  Successful projects are selected for grant aid by a selection board comprising the Department of Agriculture, Food and the Marine, BIM, Údarás na Gaeltachta, Enterprise Ireland, the Marine Institute, the South and East Regional Assembly and the BMW Regional Assembly.

2012 Grants Approved under the Seafood Processing Business Investment Scheme

Beneficiary

 

Project Spend

 

Maximum Grant Approved

Sofrimar Ltd , Kilmore Quay Co. Wexford

 €        1,430,009

 €           357,502.25

Kilmore Fish Co. Ltd Kilmore Quay Co. Wexford

 €           273,965

 €             63,408.25

Dunns Seafare Ltd Jamestown Business Pk., Finglas Dublin 11

 €           585,000

 €           146,250.00

Atlantis Seafoods Wexford Ltd. Kerlogue Ind. Estate, Rosslare Rd. Wexford

 €             49,400

 €             12,350.00

Shellfish De La Mer, Dinish Island, Castletownbere, Co. Cork

 €           488,980

 €           122,245.00

Rockabill Shellfish Ltd,  Stephenstown Ind. Estate, Balbriggan, Co. Dublin

 €           437,239

 €           109,309.73

Sean Ward Fish Exports Ltd. Killybegs Co. Donegal

 €           755,140

 €           188,785.00

Iasc Mara Teo. ,Rossaveal, Co. Galway

 €           310,612

 €             77,653.00

Earagail Eisc Teo  Meenaneary Carrick Co. Donegal

 €           895,000

 €           223,750.00

Charlie Vial (Fish Merchant) Ltd, Dunkineely Co. Donegal

 €           303,256

 €             75,814.00

Premier Fish Ltd. Kinncaslagh Co. Donegal

 €        6,134,884

 €           887,193.90

Atlanfish Ltd  Malin Rd. Donegal

 €           148,000

 €             37,000.00

Proseail An Clochan Liath Teo. Meenmor Dunglow, Co. Donegal

 €           591,950

 €           147,987.50

Breizon Ltd, Rossaveal Co. Galway

 €             12,500

 €               3,125.00

Keohane Seafood Ltd Unit 28, Kinsale Road, Ind. Estate, Kinsale Rd. Co. Cork.

 €           255,000

 €             63,750.00

Kish Fish Ltd. Malahide Road Industrial Park Coolock, Dublin 17.

 €             80,625

 €             20,156.25

Seafood Processors Ltd. T/A Morgans Fine Fish, Omeath, Co. Louth 

 €           235,963

 €             58,990.75

Good Fish Processing (Carrigaline) Ltd. Carrigaline Industrial Estate, Crosshaven Rd. Carrigaline Co. Cork

 €           222,000

 €             55,500.00

Castletown Bere Fishermens Co-op Ltd Castletownbere Co. Cork.

 €        1,400,000

 €           350,000.00

O Cathain Iasc Teo An Dangain, (Dingle) Co. Kerry

 €           715,000

 €           178,750.00

Ballycotton Seafoods Garryvoe, Co. Cork.

 €           219,563

 €             54,890.75

 

 

 

 

 €      15,544,085

 €        3,234,411.38

 

 

 

Date Released: 25 May 2012