Almost 250 new jobs are being created at a major bio-technology company in Co Antrim.

Randox Laboratories in Crumlin is recruiting 242 new staff as part of a £15.8 million expansion.

The investment is being supported by Invest Northern Ireland, which has offered £2.4 million of assistance.

Randox specialises in the development of sophisticated chemical and biochemical diagnostic tests and devices, primarily targeted at hospital, clinical and veterinary laboratories.

The company currently employs over 850 people worldwide, including 620 in Crumlin.

The investment will see facilities upgraded and the strengthening of the sales, marketing and production capability.

The new jobs will be created across those functions and will collectively deliver £5.6 million annually in salaries.

Enterprise minister Arlene Foster welcomed the announcement.

"This significant investment will enable the company to increase sales of its innovative products in the growing medical diagnostics market, which is a multi-billion pound industry and one in which Randox continues to excel," she said.

"Through the new jobs created, this investment will also benefit the wider local economy, in terms of salaries and employment opportunities."

Managing director of Randox Laboratories Peter Fitzgerald said the company had set "ambitious" revenue targets for the next few years, which are dependant on increasing sales and marketing activity, and penetrating new markets.

"We have identified sales opportunities in the rapidly expanding economies of Brazil, Russia, India and China and will be targeting these with our extensive portfolio of products," he said.

"We also have many new revolutionary products planned for release in 2011 that will make patient testing faster, simpler and more accurate.

PA