70 new jobs are to be created at a packaging factory in Blackwood. £18million of investment from Seda UK will safeguard 170 more jobs.
The company makes packaging for food, dairy and confectionary as well as other products.
Economy Minister Edwina Hart has welcomed the investment which is being supported with £5.4million business finance from the Welsh Government.
The company moved their operations to South Wales in 2004, employing 270 people at the former GE factory in Hewtin Park.
The Seda Group currently has 12 manufacturing plants (including one in North America) as well as worldwide distribution centres and offices, employing around 2,500.