Electronics firm announces £4.6m investment in the North
An electronics company based in the North today announced a £4.6m (€6m) investment to enable it to step up production of its tyre pressure monitoring equipment amid growing global demand.
Schrader Electronics, which employs 830 people in Carrickfergus, Co Antrim, is a market leader in the design and manufacture of devices which detect deflation in vehicle tyres and displays information through the dashboard to ensure the driver’s safety.
Managing director Stephen McClelland said: “The introduction of new safety legislation in the United States in 2005 has led to a significant rise in demand for tyre pressure monitoring equipment.
“As we raise our production levels to meet this demand, it is crucial that we develop the skills of our staff in tandem to ensure high levels of process efficiency and cost competitiveness.”
The company said the investment will be used to engage in research and development projects and extensive staff training to improve skills.
It has been offered £1.6m (€2.1m) towards the overall investment by the North’s economic development agency, Invest NI.
The investment is to encourage new product development and improve staff skills to enable it to increase manufacturing activities and improve overall efficiency, it said.
Schrader said it would improve productivity and profitability and satisfy the increasing global demands.
