Seagate to invest £57.4m in Derry-based R&D plant

Seagate Technology has announced a new £57.4m investment in research and development at its Springtown plant in Derry.

Data storage technology has come a long way in the past several years, but new innovations in the field will be needed to cope with the rapidly rising demand for higher data storage capacity and smaller components. Seagate's Springtown wafer manufacturing plant has been recognised as one of the top facilities of its type in the world, employing over 1,400 staff.

The Springtown facility is now getting a £57.4m investment to expand its operations, with £47.4m coming from Seagate itself and £9.95m provided by Invest NI. The funding will be used to boost research and development into nanophotonics technology, and will create 25 new highly skilled jobs.

Dave Mosley, Chief Executive Officer of Seagate Technology, said: "Technology innovation is the cornerstone of our success and the industry-leading innovation delivered by our facility in Springtown has been at the heart of our business strategy for the last 25 years."

Jeremy Fitch, Executive Director of Business Solutions at Invest NI said: "Seagate first came to Northern Ireland in 1994, investing £50 million and creating 500 new jobs. Fast forward 25 years and the facility now employs 1,400 people and it is estimated that the company has invested in excess of £1 billion in capital here."

Source: Written based on press release