The Minister for Enterprise, Trade and Innovation, Batt O’Keeffe TD, today [Monday] announced that the US electronics firm, Analog Devices, is to invest €23 million in research and development in the company’s plant in Raheen, Co Limerick.
The investment is supported by the Government as part of its strategy to position Ireland as an innovation island.
Analog Devices, which set up in Limerick in 1977, employs over 1,000 workers in high-end manufacturing and design.
The €23 million investment, which builds on research and development activity in the plant, will be in the manufacturing division.
The investment is supported by the Government through IDA Ireland.
The company plans to develop new semiconductor process technologies for the medical instrumentation, communications, industrial applications and the automotive industries around the world.
Minister O’Keeffe said: ‘Analog Devices’ investment will strengthen the firm’s strategic position in the global semiconductor industry and consolidate its presence in Limerick.
‘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.
‘Analog Devices’ investment is entirely consistent with the Government’s vision for a ‘smart’ economy based on high-quality jobs in the marketplace of ideas.’
The Vice-President of Manufacturing in Analog Devices, Dennis Dempsey, said: The decision to further invest in research and development at our Limerick campus is a very positive one for our local operations and is in keeping with the focus on innovation, investment and change that has always been at the forefront of our operations here, both in high-end manufacturing and integrated circuit design.
‘This new investment will facilitate broadening the scope of the company’s research mandate as we undertake new process developments for the corporation.
‘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.
‘Our high-end manufacturing operations and our highly skilled workforce will continue to maintain their competitive edge as a result of this investment.’
The chief executive of IDA Ireland, Barry O’Leary, said: ‘This research and development investment by Analog Devices Ireland at its Limerick operation will further embed Analog’s operations here and it is keeping with IDA’s focus on transformation as outlined in IDA’s recent ‘Horizon 2020’ strategy document.
‘Investment in research and development is an integral part of building Ireland’s ‘smart’ economy while paving the way for future investment and job creation.
‘IDA Ireland looks forward to continuing to support Analog Devices as it grows and develops its Irish operations.’
Analog Devices has a number of long-term partnerships in place with educational institutions here.
It is proposed that some of the research and development work will be carried out in conjunction with these institutions, specifically with the Tyndall Institute in University College Cork in the first instance.
