Yelo announces its £1 million expansion creating 15 new jobs
Yelo, based in Carrickfergus, is undertaking a £1 million expansion with support from Invest Northern Ireland, creating 15 new high quality jobs.
Yelo designs and manufactures automated test equipment for the international electronics market. Its three year expansion project includes a £241,000 investment in research and development to enable Yelo to expand its products and target new export business.
Invest NI has offered Yelo over £230,000 of support, part funded by the European Regional Development Fund, towards the project.
Welcoming the investment following a visit to the company, Jeremy Fitch, Invest NI’s Executive Director of Business and Sector Development said: “Yelo has established an impressive track record in international markets as a leader in the development of electronics testing and measurement equipment.
“As a result of its focus on innovation for global markets, this ambitious and progressive small business now exports over 80 per cent of its equipment to high-end customers in strategically important industries.
“Yelo’s investment, including expenditure on R&D, will help to further enhance its position as an innovator particularly in photonics. The 15 high quality electronics and software engineering jobs to be created over the next three years will help meet the growing global demand for its innovative technology.”
David Simms, Yelo Sales and Marketing Director, said: “The business that we’ve been winning from major corporations in the US and China shows that we can compete in these challenging markets because of the quality of our systems and the professional services that we currently provide.
“The investment we are making, with financial support from Invest NI, is designed to strengthen our competitiveness and to build on our reputation, especially in the photonics market. Our objective is to double turnover by 2016.”
Yelo recently secured new contracts worth more than £500,000 for its laser diode test systems in the US. Its customers include major US corporations including Kaiam Corporation, a specialist in optical components and modules for video streaming, smart phones and cloud computing.