€6.7m Investment For Jobs In East

Ireland's eastern region will be receiving an investment of €6.7m for research and development initiatives and cutting-edge technology, it has been announced.

Supported by the Industrial Development Agency in Ireland, Sophis Group in Fitzwilliam Lane, Dublin along with Wetzel Holding AG, in Clonee, County Meath are making the investment for the expansion of their research and development facilities in the region.

Tánaiste and Minister for Enterprise, Trade and Employment Mary Coughlan announced the plan on Sunday.

The investment will add 13 high-calibre engineering positions to the 58 people already employed by the company.

Ms Coughlan said: "These investments are a major endorsement of the knowledge, expertise and infrastructure which exist in Ireland for the successful implementation of high calibre R&D.

"They are also a significant vote of confidence in both Irish plant’s abilities as in the case of Sophis its products are complex and require a high degree of mathematical and technical expertise, while the aim of Wetzel’s R&D is to demonstrate the ability of the Clonee operation to add significant production and process efficiencies across the whole Wetzel Group."

Arnaud Vinciguerra, Head of R&D, Sophis Group said developing software was at the very heart of Sophis' activity.

"By using the latest technologies our mission is to create the most open and efficient financial software on the market.

"In order to achieve these goals Sophis is investing significantly in R&D. The continued expansion of our Irish operation is part of that strategy and will significantly increase STIL’s role in our global business," she added.

(DW/BMcC)