Moyola Precision Engineering manufactures high specification machined components for a range of industries including aerospace, medical devices, power generation and automotive. Its customer base includes Airbus, Boeing, Bombardier, Howden, Michelin, NACCO, Ryobi and Thales.
Invest Northern Ireland has offered almost £1million towards the investment, which will create 22 highly skilled new jobs. The investment will support the installation of the latest high speed precision machining centres and develop the company’s computer aided design and manufacture capability (CAD/CAM).
Announcing the investment, the Minister said: “Since its establishment over 30 years ago, Moyola Precision Engineering has built a global reputation for high quality precision-machined components. This indigenous company constantly seeks to be innovative in both product and process development. This has helped Moyola, in recent years, to achieve significant growth in the high value-added aerospace supply sector.
“This latest investment, backed by Invest NI, will see Moyola consolidate its position as a major player in this challenging international market. The new state of the art machinery will give Moyola a capability that is unique in Northern Ireland and put the company at the very forefront of the UK aerospace supply sector.”
Ms Foster added: “Invest NI’s new Corporate Plan for 2008 to 2011, highlights how Northern Ireland’s economy can grow through realising the potential of our existing companies. This latest investment by Moyola in building its capability in innovative and highly specialised manufacturing will help to achieve this and see the company add further value well into the future.”
Managing Director of Moyola Precision Engineering Raymond Semple said: “Since increasing our focus on aerospace in the last few years, we now generate around 50% of our turnover from the sector. With the global aviation industry currently experiencing steady growth, we see this area as key to our future business plans.
“This investment, the largest we have ever undertaken, will see us adopt the very latest in multi-axis machining plant, improving upon the same technology used by two of our major clients, Airbus and Boeing. We will be one of the first smaller aerospace companies anywhere in the world to have this capability, greatly improving the complexity of the components we can supply and our compatibility with key clients.
“Furthermore, the new CAD/CAM equipment will improve our technical problem-solving abilities. This development of both manufacturing and design capability will significantly improve our position on the value chain and increase our chances of securing new and more lucrative business in the future.”
This project is part funded by the European Competitiveness and Employment Programme 2007-2013 of the European Regional Development Fund (ERDF).
Notes to Editors;
- Invest NI has offered £992,200 towards a total investment by Moyola Precision Engineering of around £4.5million. The investment will create 22 new highly skilled jobs and safeguard the existing 80.
- More information on Moyola Precision Engineering is available at www.moyola.co.uk
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