Technology company to create 50 Limerick jobs

A Russian technology company is to to create 50 new jobs in Limerick after setting up its first Irish facility in the mid west.

NT-MDT (NanoTechnology - Modular Devices and Tools) has set up an Irish subsidiary at the National Technological Park in Plassy, close to the University of Limerick.

The company is expected to begin recruiting in July and expects to employ more than 50 people over the next five years.

Speaking at the official opening of the new facility today, Victor A. Bykov, president of NT-MDT, said the parent company in Moscow had been receiving a growing demand for its products from companies outside Russia.

"To enable us to meet this increasing non-Russian demand we decided to set up a new company outside of Russia to cater exclusively for this new and growing market. We also plan to source many sub components in Ireland for our products," explained Mr Bykov.

NDT is the first Nanotechnoloy Complany of its type to set up a production assembly and R&D facility in Ireland.

The Irish operation will initially involve assembly, testing and after sales service.

The directors have already identified a number of suitable Irish companies to supply many of their required sub components and its also their intention to run a number of research projects with Irish universities, according to Mr Bykov.

The parent company currently employs 108 people many of whom are graduates from Moscow University of Physics and Technology and Moscow Institute of Electronic Technology.

NT-MDT is also involved in several research projects with a number of Russian universities and employs scientists on a single project basis.

Limerick County Council chairman Eddie Wade opened the new facility in Limerick today and commended the company for setting up an Irish subsidary without any grant aid.

"The company are setting themselves up wihtout any grant aid support. This is to be commended and I understand that preliminary discussions between the IDA and the company have taken place towards exploring potential R&D support in the future," said Mr Wade.

"The location of this high level nanotechnology company close to the University of Limerick presents the ideal opportunity for R&D synergy between both parties. I welcome the company’s arrival and wish them every success."