Managing director of M&D Walshe, John Walshe, said he was convinced that Ribworld’s expansion into Fethard is the start of “another success story” for the company.
The “Ribworld story” started for M&D Walshe in 2010 when they made a strategic decision that the group’s assets should be used to expand its production base and turnover.
They identified Ribworld “early on” as a possibility for acquisition and then, when the rib company went into receivership in November of 2011, made the purchase within four days.
“We applied our production knowledge and our marketing knowledge and our contacts. We’ve grown the business in less than three years by over 200pc.”
That success led to its own problems, Mr Walshe said, as the business was limited to 12,000 square feet at its Carrigeen, Clonmel, base. During the summer, they had to turn down two contracts because they didn’t have the space to fulfill them, but their new premises in Fethard gives them almost 100,000 square feet to work with.
“With the aid of Enterprise Ireland, we’ll continue to put an awful lot of our investment into new products,” he said.
The switch from Clonmel to Fethard is expected to take place over a weekend in November, with recruitment for the new positions to start shortly after that. “Continuous growth will lead to sustainability.”
In five years’ time, he said, the company expects to have turnover of over €50 million and a staff totalling 175 people, “and maybe more”.