Toly Products is to invest €13 million on a new factory in Hal Far, Prime Minister Lawrence Gonzi was told during a tour of the current factory in Bulebel this afternoon.

He was accompanied by Finance Minister Tonio Fenech, who explained that the company had been considering laying off 60 workers, but talks and an agreement on assistance by Malta Enterprise saved those jobs and resulted in the new investment. He could not disclose the level of assistance by ME.

Toly CEO Andy Gatesy said the company had been expanding over the years but was hit by the international financial crisis, though not as hard as other sectors. He said the new factory will cover 5,500 sq metres but will have several floors.

The company also plans to invest €3.5 million on automation but will still increase its workforce by 10 percent as new products are added.

The company laid off 84 workers in October.

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