US electronics firm, Analog Devices, has announced it is to invest €23 million in research and development in the company’s plant in Raheen.
Minister for Enterprise, Trade and Innovation, Batt O’Keeffe said Monday the €23 million investment, which builds on research and development activity in the plant, will be in the manufacturing division and is supported by the Government through IDA Ireland.
“Analog Devices’ investment will strengthen the firm’s strategic position in the global semiconductor industry and consolidate its presence in Limerick,” O Keefe said upon making the announcement Monday morning.
“The Government is eager to support innovation and research and development activity in indigenous enterprises and multinationals so it is encouraging that a company of Analog Devices’ calibre is investing in its team and operation in Ireland,” he added.
The Vice-President of Manufacturing in Analog Devices, Dennis Dempsey,
said the decision to further invest in research and development at the Limerick campus is “a very positive one” for the company’s local operations.
“Our Limerick-based team will be driving technological developments based on our customers’ rapidly evolving needs across a wide range of industries throughout the globe,” Dempsey said.
Analog Devices, was established in Limerick in 1977 and employs over 1,000 workers in Ireland, with the Limerick operation employing about 500
workers in manufacturing.
The company says the investment will be in the manufacturing division where over 75 percent of the workforce has a minimum of a third-level degree qualification.
