Denroy set to take off into aerospace plastics sector
Co Down manufacturer Denroy Plastics will create 32 jobs after a £3m investment to expand the business and attract new customers.
The investment is part of the plastic moulding manufacturer's plan to increase the aerospace side of the Denman Group's business.
Group business also includes the manufacture of hairbrushes.
Currently, aerospace makes up a third of the business, and the firm now has a plan in place to see that grow to 55%.
The business said its strategy will involve expanding its business with existing customers - and attract new customers which it hopes will include aeroplane building goliath Boeing.
It will increase the production capacity at its Bangor factory, where it manufactures parts for Bombardier and Airbus jets.
It will also invest in new equipment to grow the business. Invest NI will provide £400,000 of support as part of the investment.
The average wages of the jobs which will be created over the next three years is £18,750. The majority of the jobs will be for operators.
Enterprise Minister Jonathan Bell said: "Denroy's plans to develop its aerospace production facility is a significant investment and marks a step-change in the company's ambition to grow sales within the international aerospace sector."
Denroy has been moulding plastics since 1972 and during that time has designed, developed and manufactured products for diverse uses and applications.
The company employs 170 people in Bangor, where it also makes the Denman International range of hairbrushes. John Rainey, Denroy managing director, said the investment builds on new deals it has signed over the last 12 months.
"The aerospace sector is an important market for us and we are enjoying increased success in winning new business, evidenced recently by our multi-million pound deal with Triumph Aerostructures."
He added: "We want to remain at the forefront of polymer processing and this investment will enable us to develop our R&D capability and test laboratory to support our development activities."
This is the second major investment by Invest NI into the aerospace sector over the last month after it provided £6.5m of support to components firm RLC for its new factory in Newtownabbey.
In July last year Denroy won a multi-million pound, five-year deal with Texan firm Triumph Aerostructures-Vought Aircraft Division to make parts for Bombardier business jets.
Under the deal, it supplies components for the Bombardier Global 7000 and Global 8000 high-end business jets from Bombardier which have won orders from tycoons including Warren Buffett.
In March 2014 it won a £1m contract to make parts for the Typhoon Eurofighter jet.