MAJOR EXPANSION FOR WEST BELFAST HI-TECH COMPANY
“Andor Technology is investing over £6 million in new premises, equipment and processes to expand its operations at Springvale in West Belfast to enable it to exploit its lead in the electro-optical technology market,” Ian Pearson, MP, Minister with responsibility for Enterprise, Trade & Investment, announced today.
The Invest Northern Ireland backed project is expected to lead to the west Belfast company doubling its workforce within three years.
Andor Technology designs, develops and manufactures specialist scientific cameras. The investment involves the company expanding within the Springvale Business Park and will provide increased manufacturing space and additional space for research and development.
Commenting on the investment Ian Pearson said: “Andor Technology’s strong commitment to research and development and to global marketing activities has resulted in steady and profitable growth for the company over the last five years.
“This major investment will help it to achieve the ambitious growth targets it has set for itself which are based on continuing product innovation and development.
“World-class companies such as Andor enhance Northern Ireland's reputation as a global centre of excellence in the leading edge technology required for the growing life sciences market.”
Award winning Andor Technology was originally formed as a spin out from research at Queen’s University and maintains close links with the University. It moved to Springvale in 1997.
“My Department is committed to the economic regeneration of West Belfast and to this end has been working closely with the West Belfast and Greater Shankill Task Forces. I have been greatly encouraged by the work of the joint Chairmen of the Task Force, John Simpson and Padraic White and investments in the area by innovative, knowledge-led companies such as this, contribute to increasing the entrepreneurial culture and long term economic success of the area,” added Ian Pearson.
Referring to Invest NI’s support for the investment the Minister commented: “At the end of its first year in operation Invest Northern Ireland can be proud of its significant achievements which include the establishment of the NITECH Growth Fund to finance the commercialisation of research and development. This fund will ensure that in the future research projects will receive the assistance they need to bring their technology to the marketplace and follow in the footsteps of successes such as Andor.
“Also, Dr Cormican, the Managing Director at Andor, is an excellent example of an entrepreneur and a role model for Invest NI’s strategy for Accelerating Entrepreneurship”.
Professor Fabian Monds, Chairman of Invest NI also welcomed the investment: “We’re delighted to support this expansion and the increase in capability that the new processes will bring to the company’s operations. Andor is a shining example of the successful commercialisation of research, which is an area of great potential for Northern Ireland.”
Dr Hugh Cormican, Managing Director of Andor Technology said: “Our objective is to become recognised as a market leader in specialist scientific cameras for the nano-technology and life sciences industries. We will continue to invest in R&D and are also strengthening our sales and marketing capacity in the US, Europe and Japan.
“New manufacturing processes will facilitate a 400% reduction in total process time, increasing efficiency and help us increase productivity and profitability.”