Down tunnelling firm to create 22 new jobs
An extra 22 jobs are being created at a Co Down tunnelling company, it was revealed today.
Newry-based Terra Solutions is investing over £2.1m (€2.3m) to acquire and expand the drilling operation for the laying of pipelines like gas and water.
The investment is expected to lead to eight new jobs in Newry and 14 overseas over the next year and is supported by Ulster Bank.
Damian Milligan from the bank said: “Terra Solutions was established to specialise in tunnelling and pipejacking for the laying of water, gas, sewerage, drainage and oil pipelines as well as for laying telecommunications cables.
“Following the acquisition it is investing in a new facility in Newry, which will provide a state-of-the-art base for the company.”
Terra bought up McAllister Brothers Ltd. It has a strong presence in the UK and is growing in Kuwait and other Gulf states including Bahrain, Qatar and Saudi Arabia.
It is in the process of growing its share of the market in the Republic of Ireland, where the company has just won business with the Irish government, including a joint venture with Dublin-based SIAC Construction for the laying of pipelines at Dublin Bay.
Barry and Michael McAllister, previously directors and shareholders of McAllister Brothers, recently established Terra Solutions.
Mr Milligan said: “Barry and Michael have vast experience of this sector. With the existing and new contracts in place and planned technological investment within the company in 2009, we are confident the business is very well placed for continuing growth.”
