Posted on Thursday 10 October 2013 by Ulster Business
Pictured with the Enterprise Minister are Telestack Managing Director Adrian McCutcheon and and Commercial Director and owner Malachy Gribben
Invest NI has offered Telestack £444,000, part funded by the European Regional Development Fund, under the Sustainable Competitiveness Programme for Northern Ireland, to support its expansion plan, which includes extending its factory and improving its IT systems.
Telestack specialises in the design, manufacture and installation of a range of mobile bulk material handling systems which are sold globally via a network of dealers and agents.
Adrian McCutcheon, Managing Director of Telestack, said: "We aim to substantially increase our sales from global customers by 2016 and so need to extend our workforce and operational facilities to support this expected growth. The support offered by Invest NI was essential in our decision to undertake this expansion which will help to underpin our competitive position in the sector and secure emerging new business across South America, Australia, Africa and the USA."
Enterprise Minister Arlene Foster added: "Northern Ireland is a recognised centre of excellence in the design and manufacture of materials handling equipment and Telestack's substantial capital investment is a significant boost for one of our most successful industries.
"The 40 skilled jobs to be created in Tyrone will have salaries above the private sector median and will contribute over £1m annually to the economy. This investment is very welcome news for the local area which is renowned for heavy engineering equipment production and also has the skills base to facilitate Telestack's growth plans."
In addition to the new jobs at Telestack, this project has the potential to create up to 15 skilled jobs in the local supply chain through complementary business opportunities, said Invest NI.