More than 250 jobs are to be created over the next three years in a major expansion by the Youghal-based company, Computer Products. The rapid growth of the telecommunications sector is the main reason behind the £12.3 million expansion, which will see the company employ 550 people by the year 2000.
The Cork company produces electronic products for the telecommunications and data networking sectors and the investment has been agreed with IDA Ireland.
Recruitment will begin immediately and over 50 per cent of those employed are expected to have third-level qualifications.
Speaking yesterday, the Tanaiste and Minister for Enterprise, Trade and Employment, Ms Harney, said the new jobs were excellent news for Youghal.
"The Irish operation of Computer Products has copper-fastened its position within the corporation and become Europe's leading producer of power conversion products for demanding applications in the communications market," she said.
Computer Products parent is based in Florida and is a publicly-quoted corporation established since 1968.
It employs 2,800 people worldwide in the design and manufacture of standard and customised electronic products. Of its £148 million turnover in 1986, £40 million was contributed by the Youghal operation.
Speaking to The Irish Times, Mr Gary Duffy, managing director, said the company was not worried that skill shortages might make it difficult to fill vacancies.
"We had a greater problem recruiting people when we first started out," he said.
The company recently announced a major acquisition of the German company Elba for £21 million.
Mr Duffy said further acquisitions were "on the cards", although there were no suitable opportunities in the Republic. The Youghal operation was set up in 1980 and both manufacturing and product development are undertaken there.
The operation, which contains a world-wide R&D facility, has the sole responsibility for European sales and marketing. The company has several large customers, including Ericsson, Siemens, Alcatel and 3Com.
In addition to increasing output, the £12.5 million investment will help to fund a new R&D programme.
Ms Harney has also announced the creation of 30 jobs at the Logistix Ireland plant in Swords, Co Dublin. The plant is a Forbairt-supported joint venture between Irish owned WoodPrintcraft Group and Logistix of the USA.
Logistix presently employs about 100 people and provides a range of fulfilment services to Irish and international companies. Wood-Printcraft is owned by the Ring family and is a long established printing company. The company publishes computer manuals for Microsoft, but 60 per cent of its sales are made by printing annual reports, tourist brochures and books.
