Bustec to double workforce at Shannon to 50

A SHANNON-BASED firm that provides testing technology to ensure the International Space Station is not at risk of shut-down, is set to double its workforce over the next three years.

The company said that Ireland’s low corporation tax rate was a big incentive in its decision to invest in Ireland.

This news follows Bustec Ltd yesterday announcing a new €15 million ($21m) contract with Lockheed Martin to provide data testing and quality systems for the US navy.

Bustec chief executive and nuclear physicist Dr Fred Bloennigen said the contract will make the company “profitable this year and very well profitable after that” while doubling its workforce from 25 to 50 over the next three years.

He said: “Today’s contract will ensure growth of 100% year on year for the next three years. That is not the only new contract we have. We have three or four other major contracts close to signing.”

At a tour of the facility yesterday Minister for Jobs, Enterprise and Innovation, Richard Bruton said: “Companies like this are a great unsung success story of the real enterprise economy and we need to promote them and learn from their success to ensure that the economy itself can become a real success story again.”

German national Dr Bloennigen said that Bustec Ltd secured the contract to test technology for the International Space Station after a temperature censor shut down the station’s central computer during an incident in 2000, which was only repaired with 42 minutes of oxygen left.

Dr Bloennigen said that lives were put at risk by the incident. He said: “NASA said this could not happen again.” The contract continues to 2017 and he said the company provides monitoring equipment for every nuclear plant in France.

Dr Bloennigen said: “I’m German, the lead investor is German, the technical director is German. If Ireland had the same tax rate as Germany, there is no incentive to come here. That is very clear.”

Dr Bloennigen said that only 30% of his engineering/technical staff is Irish.

He said: “I have trouble recruiting good technical people and I believe that it is an area where Ireland can make improvements.”