29/04/2014

241 Jobs Created By Electronics Firm

An electronics company based in Carrickfergus and Antrim is creating 241 jobs through a £56m investment.

Enterprise Minister Arlene Foster today announced today the investment and jobs boost at Schrader Electronics Ltd., which designs and manufactures remote tyre pressure monitoring systems for the automotive sector.

Announcing the investment during a visit to the company's Antrim facility, Minister Foster said: "Founded locally, Schrader Electronics has grown into a highly renowned manufacturing company, whose products are supplied to nearly every major car maker in the world.

"This is the second significant expansion by Schrader in the last three years and it is a ringing endorsement of the company’s Northern Ireland operations, which currently employ almost 1,000 people.

"The 241 new jobs will generate almost £7m a year in salaries and offer high value employment and training opportunities for local engineers."

Invest NI has offered £9.7million of support, part financed by the European Regional Development Fund under the European Sustainable Competitiveness Programme for Northern Ireland.

Stephen McClelland, Schrader Electronics’ Managing Director, said: "We expect to double turnover within three years due to both Tyre Pressure Monitoring becoming mandatory this year in Europe, and a number of exciting new product opportunities. Our success stems from our strong R&D base developing and commercialising new products to world class manufacturing standards. This will also allow us to consolidate our position as the world’s leading manufacturer and innovator of sensing and valve solutions for the automotive sector.

"Our Northern Ireland operations are central to R&D, process and systems development and this investment will further enhance their role within the company. Invest NI’s support will ensure that we can move quickly to get the new staff in place and the R&D projects underway."

(IT)

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