A company which packages food is to create 190 jobs in Blackwood, south Wales.
The site of the new Seda factory at Hawtin Park near Blackwood
Seda UK, which has Nestle, Coca-Cola and MacDonald's on its client list, employs 1,800 people in six countries.
After receiving a grant from the Welsh Assembly Government, it plans to create a new manufacturing facility at Hawtin Park.
The company says it will start recruiting staff as soon as possible.
Set up in 1964, the packaging firm has factories in Italy, Germany, Portugal, Belgium, Spain and England.
Assembly Minister for Economic Development and Transport Andrew Davies described the new jobs as "excellent news".
"They are a demonstration of the strong confidence in the Welsh economy," he added.
The company was given a Regional Selective Assistance grant from the assembly to help it set up in south Wales.
Phil Davy, Caerphilly County Borough Council's Head of Economic Development, said the new jobs would give the local economy a major boost.
"We will continue to work alongside the WDA (Welsh Development Agency) and the assembly to help attract even more investment to the Caerphilly county borough in the future," he said.
A recruitment drive will begin immediately to find new staff for the company.
Don Touhig, MP for the area and Under Secretary of State for Wales, was delighted at the news.
"This decision is a tribute to the skilled and dedicated workforce we have in this area," he said.
"This Italian company recognises that investing here provides an excellent platform to develop their European and international business.
"Working with our European partners benefits Wales, Welsh jobs, and our economy, and we must not lose sight of that."
Antonio D'Amato, president of the company's Italian-owned parent group, said the decision to invest in south Wales was a "fantastic" opportunity.
"To ensure that we maintain our number one position in this competitive market place," he said ,"the company continues to invest heavily in research and development at its operating facilities worldwide.
"As part of this investment we are pleased to announce that the board has made a decision to invest in the development of our UK operations to allow us to increase both our product range and manufacturing capacity," he added.