GP Wood said the investment would fund an improved product range, increased plant capacity and create 27 direct and indirect jobs.

Ireland’s minister for agriculture Michael Creed visited the plant on October 24 to hear the investment announcement.

“In light of the significant volumes of private forest due to come on stream in the southwest 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,” said Niall Grainger, GP Wood managing director.

“GP Wood is an important employer in the West Cork region and I wish them continued success in the future,” said Minister Creed.

“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.”

GP Wood was formed in 2013 through the merger of the Grainger and Palfab family enterprises. The company has a turnover of €49m, with exports of €21m.

Since the merger, GP Wood has invested €6.3m upgrading its Lissarda facilities.