The electronics firm Analog Devices is to invest €23 million in research and development at its facility in Raheen, Co Limerick.
The company plans to develop new semiconductor process technologies at the Limerick plant for the medical instrumentation, communications, industrial applications and the automotive industries.
The investment is supported by the Government through IDA Ireland.
The company, which established operations in Limerick in 1977, currently employs over 1,000 workers in high-end manufacturing and design. The Raheen facilty employs approximately 500 people in manufacturing and 540 people in the Converter (CVT)and Linear and Radio Frequency (LRF) product groups responsible for product development from initial concept through delivery to the customer.
Making the announcement this morning, Minister for Enterprise, Trade and Innovation, Batt O'Keeffe, said it was encouraging that a company of Analog's calibre is investing in its operation in Ireland.
"Analog Devices' investment is entirely consistent with the Government's vision for a 'smart' economy based on high-quality jobs in the marketplace of ideas," he said.
Separately, the vice-president of Manufacturing in Analog Devices, Dennis Dempsey, said the decision to invest in the Limerick facility was in keeping with the firm's focus on “innovation, investment and change."
"Our Limerick-based team will be driving technological developments based on our customers’ rapidly evolving needs across a wide range of industries throughout the globe," he said.
Analog Devices' holds the highest number of patents of any Ireland-based organisation and files an estimated 6 per cent of all Irish registered patents each year on average.
