CDE Group buys Caterpillar site in Monkstown
THE Cookstown-based CDE Group has paid an undisclosed sum to purchase the 300,000 square feet Caterpillar manufacturing in Monkstown.
The global mining and quarry industries equipment supplier takes possession of the building in September, when the last workers have been relocated to Caterpillar NI's Larne facility.
In September 2016 Caterpillar, the world's largest manufacturer of heavy construction equipment, said it was closing its Monkstown plant in Newtownabbey, with up to 200 jobs being lost in the process.
CDE says it will use the Monkstown facility to fabricate and painting complex equipment required to build the components necessary for its worldwide sales operations.
With demand anticipated to double by the end of 2020, this additional facility will complement CDE's existing Northern Ireland supply base and enhance employment in the Monkstown area, where a tradition of engineering has existed for more than half a century.
CDE director of operations Stephen McCullough said: “Over the next 12 months the plant will be operational and will result in reduced lead times for projects, which is a key driver for sales.”
Finance director Colin Trainor added: “The efficiencies generated will strengthen the CDE organisation as well as underpin the prospect for employment in the wider area. With our new headquarters also completing in the fourth quarter, this is going to be an exciting time for the company and will produce high quality job opportunities.”
Chairman Tony Convery and managing director Brendan McGurgan expressed their gratitude to the Caterpillar NI team for their professionalism and cooperation during the sale process and provided assurance that they will continue the world class manufacturing excellence they developed over many years in Monkstown.