Schrader makes Â£14m investment at site in Antrim
Schrader Technologies which has a factory in Carrickfergus has announced a Â£14m investment at its Antrim site.
Part of the Sensata Group, Schrader specialises in manufacturing direct tyre pressure monitoring systems, a critical safety mechanism to warn motorists when a tyre is significantly under-inflated.
In February, the company announced that it was to axe 125 jobs at its factory in Carrick.
Invest Northern Ireland has offered Schrader £3 million of support towards its R&D investment in six projects, part-funded by European Regional Development Fund.
Graeme Thompson, managing director, Schrader said: “This significant investment will help ensure our R&D centre in Antrim grows and remains competitive. Indeed our ambition is to develop an R&D centre of excellence in Northern Ireland.
“Demand in the wider automotive sensors market is expected to grow significantly, due to factors such as the need to reduce emissions, the trend to autonomous cars, and new comfort and convenience features.
“We wish to remain ahead of the curve and poised to offer our global customer base innovative technologies that will safeguard our competitiveness in the auto industry.”
Alastair Hamilton, chief xxecutive of Invest NI said: “The automotive sector is hugely competitive and continuous innovation is necessary for Schrader to satisfy its customers’ needs and capitalise on new opportunities.
“Supporting this investment will help Schrader build additional expertise in Northern Ireland, strengthening the R&D capabilities among its workforce and ensure that new products are developed to leverage new sales in emerging markets.”