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25/07/2008
Electrical Company Sparks £4.4m Investment
A Cookstown electrical engineering firm has announced a three-year £4.4 million investment plan, which could double jobs at its state-of-the-art plant.
TES (NI) has said the workforce, at its Derryloran Industrial Estate base, could expand to around 90.
The firm designs and builds electrical control panels for a range of applications, including state-of-the-art water and wastewater treatment facilities.
NI Economy Minister Arlene Foster has welcomed the engineering firms plans.
Ms Foster said: "The drive and commitment shown by TES is to be congratulated.
"TES is an excellent example of a locally-owned business which is growing through a combination of commitment to developing new products, processes and services and successfully targeting markets outside Northern Ireland."
"This investment, with Invest NI support of £345,000, will help TES accelerate and continue growth through new products and services. Over the next three years the company expects to double its exports, sales and employment," added the minister.
The £4.4million investment will facilitate the provision of new factory facilities, capital equipment and IT systems.
It will also strengthen the existing management team and allow the implementation of a structured training programme, new product and services development and increase marketing expenditure.
Brian Taylor, TES, said: "We have set ambitious targets for further growth, including that to achieve 74% of sales from outside Northern Ireland by September 2010."
"We are confident that this investment, coupled with the ongoing support we receive from Invest NI, will provide the foundations for us to achieve this," said Mr Taylor.
(PR/JM)
TES (NI) has said the workforce, at its Derryloran Industrial Estate base, could expand to around 90.
The firm designs and builds electrical control panels for a range of applications, including state-of-the-art water and wastewater treatment facilities.
NI Economy Minister Arlene Foster has welcomed the engineering firms plans.
Ms Foster said: "The drive and commitment shown by TES is to be congratulated.
"TES is an excellent example of a locally-owned business which is growing through a combination of commitment to developing new products, processes and services and successfully targeting markets outside Northern Ireland."
"This investment, with Invest NI support of £345,000, will help TES accelerate and continue growth through new products and services. Over the next three years the company expects to double its exports, sales and employment," added the minister.
The £4.4million investment will facilitate the provision of new factory facilities, capital equipment and IT systems.
It will also strengthen the existing management team and allow the implementation of a structured training programme, new product and services development and increase marketing expenditure.
Brian Taylor, TES, said: "We have set ambitious targets for further growth, including that to achieve 74% of sales from outside Northern Ireland by September 2010."
"We are confident that this investment, coupled with the ongoing support we receive from Invest NI, will provide the foundations for us to achieve this," said Mr Taylor.
(PR/JM)
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