Gerry McCaughey, CEO, Entekra
Earlier this week it was announced that Entekra had received a $55 million investment that would see them create 100 jobs in Ireland.
What does Entekra do?
Entekta is an Irish manufacturing company based in Monaghan that specialises in design engineering and home manufacturing through off-site framing for both residential and commercial construction.
The firm also has a base in California in the US and has a specific focus on the US housing market.
What does Entekra have to offer?
CEO Gerry McCaughey commented earlier this year when speaking to SBC Magazine, saying:
Revenue for Entekra gets its rocket fuel if and when the firm can tap enough growth capital to open a second, 175,000-square-foot factory in Northern California by the fourth quarter of 2019, capable of delivering 3,000 homes annually on single shifts of production.
This ability can be drawn through their quality structural components as a fully-integrated off-site solution (FIOSS). This will look to turn the framing labour shortage around.
The company can build a house fully to roof level in six hours and everything is pre-wired. Tapping into the US market with this service can alleviate the stresses of one of the most inefficient industries in America.
McCaughey, a well-established entrepreneur, sold Century Homes to Kingspan in 2006 for €100 million. Century homes offered energy-efficient home manufacturing through off-site construction, a similar venture to Entekra.
Jobs and investment announcement
The announcement of 100 jobs is most certainly an indicator that the labour shortage in this field can be overturned. These jobs are also supported by IDA Ireland.
The $55 million investment is made by Louisiana-Pacific Corporation (LP) and private investors.
McCaughey said of the investment:
The home construction market is the largest and most inefficient industry in the U.S. Entekra’s technology allows us to manufacture energy-efficient homes at speed and scale. It will reduce waste and improve quality of the home construction process.
He continued: “Our aim now is to deliver 100 new jobs at our Monaghan facility between now and the end of the year. We are hiring skilled professionals in design, engineering, estimating, administration and purchasing.”
Minister for Business, Enterprise and Innovation, Heather Humphreys TD, said
Today is a great day for Monaghan. The creation of 100 high skilled jobs by Entekra is a significant vote of confidence in the county and the border region as a great place to do business.
She continued: “I want to acknowledge the huge efforts of Gerry McCaughey, a local entrepreneur, who has spearheaded this $55 million investment in partnership with Louisiana-Pacific Corporation. This is testament to Gerry’s strong commitment to his home county.
“Monaghan has a long and proud tradition in the engineering sector. As Minister for Business and a local representative, I am delighted with today’s announcement, which showcases the county as a destination for international investment.”