The announcement by Maydown Precision Engineering that it is to create 40 new jobs at its Derry plant has been welcomed as a “confidence boost” for the city.
The new posts are being created after major investment by Manchester-based A2E Venture Catalysts.
MPE, which currently employs 135 staff, supplies parts to major aircraft manufacturers Bombardier, Airbus and Boeing.
The announcement has been welcomed by Foyle MLAs Raymond McCartney of Sinn Fein and the SDLP’s Colum Eastwood.
Mr McCartney said the news was a “great boost for the local economy.”
He added: “The confidence of this investment will also send a positive message that the North West is competitive and a good place to invest.
“It is important that we attract more jobs of this high category into this region.”
Mr Eastwood said the investment by A2E Venture Catalysts in the Derry company was testament to the “great strides” made by the local firm and a “real vote of confidence” in Derry’s skills base.
He added: “This announcement will provide renewed hope for Derry’s many highly skilled and well-trained people who are seeking employment.
“The creation of 40 high end engineering jobs is step in the right direction for our city, which has in recent years gained the unfortunate title of biggest unemployment hotspot not only in the North but across England, Scotland and Wales as well.”
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