Kilkeel engineering firm creating 15 new jobs
A Kilkeel company is to create 15 new jobs following a £300,000 investment in new premises.
Copas Technologies borrowed the money through Invest NI's Growth Loan Fund, set up to lend money to small and medium sized enterprises in Northern Ireland.
The investment will allow the engineering firm to expand into new markets in the energy and pharmaceutical sectors, a break away from its normal focus in the aeronautical and transport industries.
Copas Technologies managing director Shaun Copas said the lending will help the company spread its wings.
"We have a strong reputation in the aeronautical market, producing high value solutions for first class and business class spaces on aircrafts," he said.
"This investment has already meant we are able to locate to a considerably larger space in Kilkeel which will give us the room we needed to diversify into new sectors, ultimately win more business and continue competing in the global market place."
Copas's current clients include BE Aerospace and it exports to both the rest of the UK and US.
The loan fund is administered by umbrella company WhiteRock Capital Partners.
David McCurley, senior investment manager at the lender, said that the deal will help the wider area.
"This is not only good news for Copas Technologies and its clients, but it is also great news for the local Newry and Mourne area and the wider NI economy, as this growth is providing a boost on the jobs front," he said.