The company is one of the leading paving and walling manufacturers and suppliers in the UK and Ireland.
Making the announcement, the Minister said: “During such challenging times for companies across Northern Ireland, I would like to congratulate Tobermore on this major announcement. It is investments like this which will drive our economic recovery forward.
“This £30million investment will help Tobermore meet the growing demand for its products throughout the UK and Ireland, whilst also creating valuable skilled employment opportunities in the Mid Ulster District Council area. The jobs, to be created over the next three years, will generate almost £2.5million in additional annual salaries.”
Invest Northern Ireland has offered Tobermore £807,500 of support which includes support for its new production facilities in the Mid Ulster area, 95 new jobs and investment in new machinery to help meet the growing demand for its products.
David Henderson, Managing Director of Tobermore, said: “We have experienced extensive growth in recent years due to our exceptional product offering combined with our high levels of customer service, and in return have developed new products to meet the needs of our loyal customer base.
“This investment will put us in a unique position to exploit multiple markets in the coming years, with UK and Ireland our main priority markets. We are excited by the next stage of our growth plans, which requires the major expansion of our current facilities and significant investment in recruitment and marketing.
“We are delighted to have received the support of Invest NI as we move forward with our expansion plans.”
The company began recruitment earlier this year to help it meet customer demand, with 25 of the jobs already in place. A further 70 roles are to be created in areas including sales, operations and production.
Congratulating the company, Kevin Holland, Invest NI’s CEO, said: “Supporting businesses with the greatest potential to grow is vital to helping our economy to move forward. We have worked with Tobermore over many years, and recognised the potential the company had to scale rapidly.
“The company participated in our Leadership for Growth Programme, which has provided the senior team with the right tools to move into this new phase of business growth. To support this, we have offered the company just over £850,000 towards this investment and training of its staff to ensure it can grow and meet demand for its products and services.”