A US technology company is investing £90 million sterling (€130 million) in its Derry plant for the development of next generation technology for the computer industry.
The investment by Seagate Technologies will help the Springtown factorydevelop new technology that could provide computer manufacturers with hard diskdrives that offer increases in storage capacity and performance.
Northern Ireland Minister responsible for Enterprise, Trade and Investment,Mr Ian Pearson, said it was a signal to others Northern Ireland was the place for cutting-edge technologies.
As well as positioning the Springtown plant at the very centre of Seagate'smost advanced technology, "the investment is a signal to the internationalelectronics industry that Northern Ireland is a perfect location forknowledge-led companies with a strong global focus", he said.No new jobs will be created by the investment, but it will help preserve theexisting workforce.
The company has been given £10 million by the Invest Northern Irelandeconomic agency towards the investment.
It is the latest vote of confidence by Seagate in its Northern Irelandoperations. In April the company announced a substantial R&D investment at the Limavady plant to undertake strategic research into the next generation of magnetic recording technology.