Minister for Enterprise Trade and Employment Micheál Martin officially opened EMF Ireland Ltd yesterday, a start-up photonics company located in Mitchelstown, Co Cork, which creates over 30 new positions.
Supported by Enterprise Ireland, the company expects to employ 33 high-skilled people over the next three years, rising to 50 by 2009.
Exports of €5.4 million are anticipated from the investment.
Speaking in Mitchelstown, Mr Martin said EMF Ltd was a high-tech company developing cutting edge technology.
"I am delighted to see a company like EMF Ltd, built on a solid foundation of innovation and intellectual capital, being set up in a regional location. Our regional towns and villages need new industry in order to retain and attract skilled people."
Speaking at the plant, Kevin Sherry of Enterprise Ireland said he was pleased to be associated with such a key infrastructural development within the Irish photonics industry.
The plant will develop, manufacture and market technologically advanced metal organic chemical vapour deposition machines, used to deposit layers of chemicals on wafer substrates, used in solar cells, laser diodes and other photonic devices.