€29m investment in 17 Irish companies
Mr Micheál Martin, Minister for Enterprise Trade and Employment today announced that Enterprise Ireland has made significant investments in support of innovation, international market and business development in the first half of 2004 in 17 Irish companies, involving a total investment of €29m. This will result in the creation of approximately 495 new jobs over the next 3 years. Over half (€17m) of this investment will be linked to applied Research & Development (R&D) in 9 companies.
Making the announcement, Minister Martin said: 'Internationally trading Irish companies are substantial contributors to growth, wealth and jobs in the Irish economy. The companies announcing new investment and jobs today demonstrate the diverse character of Irish industry. Established companies like Burnside Hydracyl and Burnside Eurocyl in County Carlow, Combilift Ltd in Clontibret, Co. Monaghan, Mergon International in Castlepollard, Co Westmeath and Sigma Wireless Technologies in Dublin have underpinned their growth by a continued and increased commitment to R&D and innovative approaches to product development. Others like Ecom Interaction Services Ltd in Clonakilty, Co.Cork and Prime Carrier in Dublin were established within the last five years. Ecom offers a multilingual outsource service while Prime Carrier are operating in the highly competitive software sector where Ireland is regarded as a strong player internationally.
'All demonstrate an ambition to respond to changing market demands by investing in Research & Development, training and business development needs. The focus on R&D is particularly important for Irish industry. In the years ahead, successful companies will have developed a deep understanding of their customer needs and will invest on a continuous basis in applied research to deliver innovative customer solutions. Increased research and development, in particular highly focused applied research with business-to-business and business-to-college collaboration, is absolutely crucial in maintaining the momentum already underway', Minister Martin added.
'The importance of Irish industry to regional development is clearly evident as 14 of the companies are located outside Dublin. Irish owned businesses are critically important in creating jobs and generating economic activity in regional cities, towns and villages across the country. It is particularly important that these companies are creating challenging jobs at a regional level which are necessary to attract and retain a high skilled workforce', Minister Martin concluded.
Frank Ryan, CEO, Enterprise Ireland said: 'These companies represent significant investments made by Enterprise Ireland in the first half of 2004. During the same period, Enterprise Ireland also supported investments in approximately 550 companies in activities such as market investigation, R & D and training. Achieving and sustaining competitiveness is crucial for Irish companies to win new sales in highly competitive global markets. Strategic investment to build the capability to innovate and sell will position these companies to compete at an international level for new business opportunities'.
(www.enterprise-ireland.com)
Making the announcement, Minister Martin said: 'Internationally trading Irish companies are substantial contributors to growth, wealth and jobs in the Irish economy. The companies announcing new investment and jobs today demonstrate the diverse character of Irish industry. Established companies like Burnside Hydracyl and Burnside Eurocyl in County Carlow, Combilift Ltd in Clontibret, Co. Monaghan, Mergon International in Castlepollard, Co Westmeath and Sigma Wireless Technologies in Dublin have underpinned their growth by a continued and increased commitment to R&D and innovative approaches to product development. Others like Ecom Interaction Services Ltd in Clonakilty, Co.Cork and Prime Carrier in Dublin were established within the last five years. Ecom offers a multilingual outsource service while Prime Carrier are operating in the highly competitive software sector where Ireland is regarded as a strong player internationally.
'All demonstrate an ambition to respond to changing market demands by investing in Research & Development, training and business development needs. The focus on R&D is particularly important for Irish industry. In the years ahead, successful companies will have developed a deep understanding of their customer needs and will invest on a continuous basis in applied research to deliver innovative customer solutions. Increased research and development, in particular highly focused applied research with business-to-business and business-to-college collaboration, is absolutely crucial in maintaining the momentum already underway', Minister Martin added.
'The importance of Irish industry to regional development is clearly evident as 14 of the companies are located outside Dublin. Irish owned businesses are critically important in creating jobs and generating economic activity in regional cities, towns and villages across the country. It is particularly important that these companies are creating challenging jobs at a regional level which are necessary to attract and retain a high skilled workforce', Minister Martin concluded.
Frank Ryan, CEO, Enterprise Ireland said: 'These companies represent significant investments made by Enterprise Ireland in the first half of 2004. During the same period, Enterprise Ireland also supported investments in approximately 550 companies in activities such as market investigation, R & D and training. Achieving and sustaining competitiveness is crucial for Irish companies to win new sales in highly competitive global markets. Strategic investment to build the capability to innovate and sell will position these companies to compete at an international level for new business opportunities'.
(www.enterprise-ireland.com)
posted by Rico Biriah at 10:10 am
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