29/06/2004

US firm invests £2.9m at Belfast plant

The Belfast base of a US software company is to invest £2.9 million to develop new services for its parent company and embark on further training and development.

Liberty Information Technology (LIT), the Belfast software development subsidiary of Liberty Mutual Group (LMG), will create 26 new jobs as a result of the investment which has been backed by Invest NI.

Announcing the venture by LMG, a leading global multi-line group of insurance companies, Invest NI's Leslie Morrison, alongside LIT’s Managing Director, Gordon Bell, said the news was further proof that Northern Ireland was a leading a centre of excellence for software development across the world.

“This is a significant investment that further secures LIT as the key software centre for the group at a time when other companies are choosing to outsource to third party suppliers, particularly in India and Eastern Europe," Mr Morrison said.

“This further endorsement of LIT by Liberty Mutual adds to Northern Ireland’s international standing as a centre of excellence for software development, and to Belfast’s growing reputation in financial services.”

Mr Bell added: “The overall aim of this investment is to extend the services that we provide to business units throughout the group.

“It will mean additional software work for our current LMG customers and new projects for units not currently serviced by us."

Mr Bell said the investment was also a further demonstration of the confidence which the group had in its Belfast team.

Invest NI’s funding is being used to provide assistance to LIT in their ongoing recruitment and training programme, with unemployment support provided as the jobs are created.

(MB)

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