The company currently employs 61 people at the dyeing and finishing plant in Kells.
BBC: Investment boost to textile industry
The Baird Group of Lurgan is to base the project at its John Hanna subsidiary in Kells, County Antrim.
The Australian incident coincides with a campaign for part of the book to be put on display in Kells, Co Meath.
BBC: Priceless book damaged in flight
Kevin McKee and Seamus Wright in Coghallstown near Navan in County Meath and Brendan Megraw at Oristown near Kells in County Meath.
BBC: Searches over for Disappeared
David Kells, managing director at Hampden Park, said he was delighted the stadium had been included in London's bid to host the 2012 Olympics.
BBC: NEWS | UK | Scotland | Scotland in line for Olympic gold
The view in Dublin was that the prospect of the Kells transfer, already being resisted by some university authorities, was now in further doubt.
The college is home to the Book of Kells, an eighth century set of gospels created by the monks of the Abbey of Kells in County Meath.
BBC: A literary pilgrimage through the streets of Dublin
The 31-year-old will race his 600cc and Superstock bikes at Kells this weekend and has lined up a number of other meetings after the 'Ulster' on 18 August.
BBC: SPORT | Motorsport | Motorbikes | Farquhar to compete at Ulster GP
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