Belfast Telegraph

Inward investment just keeps pouring in as Co Antrim manufacturer Yelo unveils another 15 new posts

BY CLARE WEIR

A Co Antrim manufacturing company is creating 15 jobs through a £1m investment.

Yelo, based in Carrickfergus, designs and manufactures automated test equipment for the international electronics market.

The firm recently secured new contracts worth more than £500,000 for its laser diode test systems in the US. Its customers include major US corporations including Kaiam Corporation, a specialist in optical components and modules for video streaming, smart phones and cloud computing.

Yelo currently employs 26 people and was formed in 2010 in a buy-out of the then Canadian-owned business by its management team of Richard Furey, Dave Sinclair and David Simms.

The three-year expansion project includes a £241,000 investment in research and development to enable Yelo to expand its products and target new export business.

Invest NI has offered Yelo over £230,000 of support, part-funded by the European Regional Development Fund, towards the project.

David Simms, Yelo sales and marketing director, said the company hopes to double turnover in the next three years.

"The business that we've been winning from major corporations in the US and China shows that we can compete in these challenging markets because of the quality of our systems and the professional services that we currently provide," he said.

"The investment we are making, with financial support from Invest NI, is designed to strengthen our competitiveness and to build on our reputation, especially in the photonics market."

Jeremy Fitch, Invest NI's executive director of business and sector development, added: "Yelo has established an impressive track record in international markets as a leader in the development of electronics testing and measurement equipment.

"As a result of its focus on innovation for global markets, this ambitious and progressive small business now exports over 80% of its equipment to high-end customers in strategically important industries.

"Yelo's investment, including expenditure on R&D, will help to further enhance its position as an innovator particularly in photonics."

Belfast Telegraph

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