THE American owned poultry processing group Moy Park is investing £31.5 million sterling in a major expansion of its operations in Northern Ireland which will create 350 new jobs. Moy Park is receiving £8.1 million in financial assistance from the Industrial Development Board towards the expansion.

MoyPark, which is owned by the Chicago based OSI Industries, is investing £11 million in a new 5,800 square metre dedicated chicken cutting factory in. Dungannon, where the 350 additional jobs are being created.

A further £20 million is being spent on re equipping and reorganising production at other Moy Park plants in Craigavon, Moira and Coolhill, near Dungannon. Moy Park already employs 2,200 people and this restructuring will secure employment in the Northern Ireland operations.

At Craigavon, £11.4 million is being invested in new processing, freezing and chilling equipment, £1.5 million is being invested in a refurbishment of the Moira operation while Coolhill will benefit from a £2.2 million investment in automated equipment.

Moy Park managing director Mr Trefor Campbell said: "The investment will give us the additional capacity to achieve our objective of an increase in sales to major food retailers in Britain and further afield in Europe over the next five years. He added that market demand in the UK is projected to grow by around 20 per cent per annum.

Moy Park directly employs 2,900 people including 300 in the UK and 400 in France and underpins another 800 jobs in the animal feed, packaging and transport industries in Northern Ireland.