Firm ‘commits’ to NI with £32m investment

The development came with a £32million investment announced this week at the Meadowbank Road site, which manufactures aluminium die casting products for the European automotive market.

The cash boost will go towards new machinery to enable the firm to expand its product range.

First Minister Peter Robinson said the company was one of Northern Ireland’s ‘longest established’ investors. “This latest investment in Ryobi Aluminium Casting (UK), Limited’s only European plant is a further indication of its commitment to Northern Ireland,” he added.

“The announcement reinforces the growing global appeal that we have as a great place in which to invest and to grow your business.

“We met with Chairman Hirsoshi Urakami and President Akira Urakami in December as part of our business mission to Japan to discuss this project.

“I welcome this opportunity to thank Ryobi for its further investment in Northern Ireland and to assure the company of our continued support.”

Meanwhile, Deputy First Minister Martin McGuinness indicated the development will bring the total employed by Ryobi to 386, delivering over £2million a year to the local economy.

“Thisinvestment by Ryobi Limited follows a £900,000 investment by the company in training. This demonstrates a commitment to developing our people into a multi- skilled workforce.

“The investment sends out a clear signal that the north of Ireland is a fantastic location for international businesses,” he said.

Enterprise, Trade and Investment Minister Arlene Foster said the investment was “an endorsement of the skills and infrastructure available here, as well as proof that Invest NI’s work to secure investment and reinvestment is working.”