Melcut Cutting Tools has announced it is to create 50 new jobs in Co Clare as part of a €2 million investment.
Melcut, which manufactures specialty cutting tools, is a subsidiary of the US-based firm SGS Tools. The company is setting up a new base at the Shannon Free Zone.
SGS Tools employs around 400 people in the US, UK, France, Germany, Japan and China. The new plant will focus on customised cutting tools for the US, Canadian and European markets.
The announcement was made this afternoon by Tánaiste and Minister for Enterprise, Trade and Employment Mary Coughlan.
"The decision by Melcut, a global leader in its field ... is a strong vote of confidence in the facilities and skilled work force at Shannon Free Zone," said Ms Coughlan.
Over 7,000 people are employed in total at the zone, which recorded over €3.5 billion in sales last year, a 10 per cent. increase on previous results.
