Economy Minister Simon Hamilton MLA has welcomed Critical Power Systems’ announcement that it is to invest £2million and create 47 new jobs in Newry with support from Invest Northern Ireland.
The new manufacturing start-up business designs, manufactures and supplies power distribution units for the data centre market.
Welcoming the investment Minister Hamilton said: “Critical Power Systems is an ambitious start-up taking advantage of the manufacturing and engineering skills available in Newry to support its growth. It has developed quickly over the last six months to meet customer demand for its products.
Critical Power Systems is making a valuable contribution to the manufacturing base in Newry and the company’s loyal and skilled workforce are among the 80,000 people currently working in our growing manufacturing industry.
“The investment supported by Invest NI demonstrates CPS’ confidence in sales opportunities in its target markets.
“The new jobs being created over the next three years will generate £1million in additional salaries to the local economy and offer skilled employment opportunities in the Newry, Mourne and Down District Council area.”
Invest NI has offered Critical Power Systems £345,000 towards its investment project.
Colum Hadden, Managing Director Critical Power Systems, added: “This is an exciting development for us as we work to build our brand and market presence among target customers.
“The assistance provided by Invest NI has played a key role in developing this new manufacturing facility in Newry. We are encouraged by our sales and performance to date and will continue to work closely with our key partners, which are global suppliers to the data centre and power distribution market, to secure new export business.”