Posted on Thursday 24 March 2016 by Ulster Business
First Minister Arlene Foster and deputy First Minister Martin McGuinness are pictured with Alastair Hamilton, Chief Executive, Invest NI, Brendan McGurgan, Managing Director of CDE and Enterprise Minister Jonathan Bell MLA.
Northern Ireland’s prominence in the global market for materials handling equipment has been enhanced with news of a £6.8m expansion for Cookstown company CDE.
The firm will also create 110 jobs over the next six years, roles which will generate a total annual salary bill of £2.5m working out at average salaries of nearly £23,000 each.
They will range from posts in manufacturing, engineers, research and development and marketing.
The expansion is aimed at growing the business’s presence in both the US and Europe, although further growth is expected around the world for its equipment which is primarily aimed at the quarrying industry.
It designs, manufactures and supplies bespoke materials, washing equipment, waste recovery and recycling systems and has big ambitions.
“This is an important investment for CDE as we look to progress our longer term growth strategy by focusing on new business particularly in the USA and Europe,” Brendan McGurgan, CDE’s Managing Director, said. “The CDE vision is to be the number one wet processing equipment company in every country in the world and expanding our facilities and workforce in Cookstown underpins this ambition.”
Invest NI has offered over £1.3million towards the company’s expansion plans which include constructing a factory extension as well as a new head office building to accommodate the expanding workforce at CDE.
Speaking following a visit to the company’s headquarters, First Minister Arlene Foster
“Growing and strengthening our indigenous manufacturing sector is a priority for the Northern Ireland Executive and Invest NI’s support for this project will ensure CDE has the resources it needs to full realise its export potential,” First Minister Arlene Foster said announcing the expansion. “ The company’s six year growth strategy, when fully implemented, will see 110 new jobs created in Cookstown across a range of graduate and experienced roles.”
The deputy First Minister, Martin McGuinness said it is good news.
“This investment signals CDE’s continued commitment to Cookstown and its confidence in the local workforce, he said. “CDE is a first class engineering company successfully exporting their innovative bespoke materials across the world. It is an excellent example of how the capabilities of our local manufacturing sector can be developed for international success.”