Megazyme invests €3.7m in R&D site

The announcement coincides with the launch of a new range of nutritional testing kits aimed at the international food sector, which will go to market in September.

Megazyme Technical Director Dr Barry McCleary said there was a growing emphasis on nutritional labelling in the US and British markets.

The shortfall, he said, was down to ‘limitations of available methodology”, which would be addressed by Megazyme’s new test kits.

This method will allow for the accurate measurement of these two groups of components and thus the correct labelling of foods where claims on carbohydrate content are made.”

Speaking at the official opening of the Megazyme facility last week, Minister for Agriculture and Food Mary Coughlan said the company’s commitment would contribute to government and EU objectives to invest 3 per cent of gross domestic product in research and development each year.

“The development of the test kits Megazyme specialises in underpins the production of high quality nutritious food for the consumer and enables improved consumer choice by identifying important ingredients and allowing for the correct labelling of food products, both of which are key food priorities of my department,” Coughlan said.

The company employs 16 staff and has a turnover of about €2.5 million.

It recently secured a €650,000 R&D grant from Enterprise Ireland and plans to invest a further €1.8 million in R&D over the next four years.

McCleary said that the company was on target to double its turnover to €5m over the same period.

As featured in The Sunday Business Post