Galway-based company JFC Manufacturing Ltd has secured a €2 million deal which will see it opening a new factory in South Africa, in a joint venture with local plastics design company Accelerate Design Ltd, and generating potential sales of €2.5 million over the next two years.
The good news was announced earlier this week by the Minister for Trade and Commerce, Mr Billy Kelleher TD, during the Enterprise Ireland trade mission to South Africa which involved the participation of 20 Irish companies drawn from a broad range of sectors.
Under the joint venture, JFC purchased 52 per cent or controlling interest in Accelerate Design and the new company will be known as JFC Accelerate Design. When completed, JFC’s total investment will have been in the region of €2 million and sales of €2.5 million or 27 million rand are expected to be generated over the next two years.
A family-owned business, JFC Manufacturing was set up in 1987 in Tuam, Co Galway, to supply specialised plastic products to the agricultural, civils, construction, recycling, marine, and materials handling industries. JFC is a global organisation, exporting to some 40 countries and employing 200 people world-wide through its production facilities in Ireland, UK, and Poland.
Minister Kelleher said: “Growing Irish exports is fundamental to Ireland’s economic recovery. JFC, which already exports to more than 40 countries, and is now launching in South Africa, is a leading example of the export success that Irish manufacturing companies can achieve worldwide.”
John Concannon, managing director of JFC Manufacturing Ltd, added: “This is a significant step for JFC. South Africa is a large market with massive growth potential. With every downturn there is opportunity and we don’t believe in standing still. As the European markets slacken, the timing is right for JFC to take on the new challenge of growing markets such as South Africa and Accelerate’s existing customer base will facilitate an easier route to market.
“I’d like to thank Enterprise Ireland for its unstinting support over a number of years. Three years ago they supported the building of our dedicated R&D department in JFC Tuam and this new venture is the direct result of working closely with Enterprise Ireland’s South Africa team over the last two years. We’ve also had significant assistance from their offices across Europe over several years,” he said.
