Irish Prime Minister Enda Kenny (second from right) and the Irish minister for jobs, enterprise and innovation Richard Bruton (second from left) visited Combilift's current HQ in Monaghan this month.

Combilift will invest EUR40 million (USD45.5 million) over two years in a new manufacturing facility, which is expected to create 200 jobs over the next five years.

The expansion will enable the forklift maker to double its current EUR150 million (USD171 million) annual turnover over the next five years. Most of the 200 new jobs to be created will be for skilled technicians and design engineers. Another 200 jobs will be created during the two-year construction period of the facility.

Martin McVicar, managing director of Combilift, tells Forkliftaction.com News that his company plans to boost production at current manufacturing sites in Monaghan. "Once the new facility is operational (planned for early 2017), we are aiming to double our output within five years from now."

The new purpose-built, 40,000 sqm (430, 556 sqft.) greenfield manufacturing site will be built on 40 ha (99 ac.) of industrial-zoned land on the Monaghan by-pass. This will include a dedicated research and development building and adjoining administration offices, and will be more than double the size of both of the company's present manufacturing facilities. These are currently in Monaghan, where Combilift's forklift ranges are produced, and in Clontibret, where the straddle carrier range is built.

Combilift will continue to augment its product range in existing and new markets.

"With 7% (of) turnover being reinvested in R&D, we are planning to introduce new models, particularly at the smaller and larger ends of our product ranges," McVicar explains. "New developments in our straddle carrier product line can be expected this year. We also plan to launch a new multi-directional Combilift at Ligna (timber expo) in Germany in May."

Last year was Combilift's best year in terms of product output. It manufactured 3,440 units and expects to exceed this in 2015.

"Combilift had a turnover of EUR150 million (USD171 million) over the last 12 months. We expect turnover to exceed EUR170 million (USD194 million) in the coming 12 months," McVicar says.

He adds that Russia has been one of the company's top 10 markets.

"Russia is a challenging market for 2015, with the depreciation of the Russian currency compared to six months ago. Combilift is focused on getting additional growth from the other markets we are doing business in, of which we anticipate significant growth for the North American market during 2015."

Combilift is known for its range of multi-directional forklifts, Aisle-Master articulated forklifts and other innovative materials handling solutions like the Combilift straddle carrier designed to handle large containers and over-sized loads. The company was set up by McVicar and technical director Robert Moffett in 1998 and has produced over 24,500 units since then. It employs over 300 people at its two facilities and exports to over 75 countries.