06/08/2004

US Firm To Create 60 New Cork Jobs

Tánaiste, Mary Harney has announced that US firm Altera Corporation to is establish its European Shared Services Centre in Cork with the creation of 60 new jobs.

Altera, which is a leading manufacturer of programmable logic devices, will create the new high level jobs over the next five years at Cork Airport Business Park.

Commenting on the news, the Tánaiste said: “Altera has confirmed that the Cork Centre will be a key site for the company in Europe. This decision is an important recognition of Ireland’s continuing ability to be a cost effective base and a leading location for such strategic high-level support services centres.”

Tim Colleran, Vice President of European Business Operations for Altera Corporation, added: “We decided to locate our European business operations in Ireland because of the country’s track-record in supporting international services centres and its unique and long established relationships with the semiconductor industry.”

Altera is establishing the Centre to centralise a number of key functions at one location, which will achieve greater efficiencies. Functions located in the Cork operation will include management of the complex network of independent European distributors; product pricing; contract negotiations; and financial shared services. Europe accounts for about 25% of Altera’s worldwide sales. Altera’s European Headquarters will remain in High Wycombe, UK.

(MB)

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