Denroy Plastics Announces £3million Investment and 32 New Jobs
Enterprise Trade and Investment Minister Jonathan Bell has announced Denroy Plastics is to create 32 new jobs in Bangor with a £3million investment.
Invest Northern Ireland is supporting the investment which will involve a staged expansion of the production capacity at Denroy’s factory premises and purchasing new equipment to support the company’s growth within the global aerospace industry.
Jonathan Bell said: “Denroy’s plans to develop its aerospace production facility is a significant investment and marks a step change in the company’s ambition to grow sales within the international aerospace sector.
“The 32 new jobs to be created by 2017 will provide valuable employment opportunities to work with cutting edge technology and generate almost £600,000 annually in additional salaries for the Northern Ireland economy.
“Invest NI has worked closely with the business over a number of years and its support with this expansion will ensure that Denroy Plastics has the capabilities and resources to thrive and grow. Denroy’s sustained commitment to market-led innovation will benefit the company as it seeks to compete for new and innovative business opportunities on a global stage.”
John Rainey, Denroy’s Managing Director, said: “The aerospace sector is an important market for us and we are enjoying increased success in winning new business evidenced recently by our multi-million pound deal with Triumph Aerostructures based in Texas. We want to remain at the forefront of polymer processing and this investment will enable us to develop our R&D capability and test laboratory to support our development activities.
“This investment demonstrates our long term commitment to Bangor and to creating further employment opportunities for local people. Invest NI support with this endeavour allows us to remain competitive and boost our productivity, employment and turnover.”