Minister announces £3.5 million investment by Lisburn company, Kelvatek
Enterprise Minister Arlene Foster today announced that Lisburn-based Kelvatek Ltd is to create 60 new jobs in a £3.5 million investment.
Kelvatek designs, manufactures and supplies a range of innovative products to the power and rail industries. The investment will see it expanding its range of products, tripling employee numbers and quadrupling turnover over the next three years.
The expansion is being supported by Invest Northern Ireland, which has offered £300,000 of support.
Arlene Foster said: “Over the next three years Kelvatek will create 60 high quality jobs, which will deliver some £1.9 million a year into the local economy, a welcome boost in the current difficult economic conditions.
“The company’s ambitious expansion plan is based on a dual innovation and export focus. It plans to develop new products that will use new intelligent automation technology and to expand into new markets. This approach exemplifies a forward-thinking company that has identified the need to develop solutions for a changing industry.
“Invest NI’s Boosting Business campaign is offering enhanced support for local companies, both large and small, to carry out R&D and to explore export opportunities. Companies like Kelvatek show how focusing on these areas can lead to success.”
The investment announcement follows the Acumen 2012, Smart Technology Leadership for Power Network Businesses conference which was organised by Kelvatek and aimed at CEOs and senior management from across the UK and Europe.
John Cunningham, Managing Director of Kelvatek, said: “Our strategy is to expand into new markets for current products and at the same time develop a range of complementary products to take advantage of new market opportunities opening up in the area of smart grid technology.
“Invest NI’s support is essential in allowing us to move quickly in order to develop solutions for the emerging and technically challenging power distribution problems, thus giving us a competitive edge.”