Up to 30 jobs are to be created at the former Corman-Miloko plant in Carrick on Suir.
The site on the N24 was purchased recently by Limerick based United Metals Recycling who already own a number of businesses and properties in County Tipperary.
They specialise in buying buildings which are lying idle or are seen by some as past their sell by date.
Among the local properties in their portfolio is the former SRAM facility in Carrick, Ranbaxy in Cashel and Knocklofty House outside Clonmel.
The purchase of the Corman-Miloko plant in Carrick is being welcomed by local Councillor David Dunne who says it would be great to see it continue as a food/drink manufacturer in future.