09012024 - Flipbook - Page 23
23
TUESDAY JANUARY 9 2024
BUSINESS
INSIGHT
Andor Technology has confirmed it will invest £15 million in acquiring and refurbishing a new 23,000 premises next to its base at Springvale Business Park
Andor Technology in
£15m expansion plans
Its workforce also increased by
“
30 last year to 318.
Established in 1989 as a spin-out
from research developed at Queen’s
University,
Andor
Technology
Our headline
strategy, which is
focused on customer
intimacy, innovation,
operational
excellence, and
customer support, is
driving sustainable
growth
was
acquired by Oxford Instruments in
2014.
RYAN McALEER
The Belfast rm said while the
r.mcaleer@irishnews.com
improved
en
A
by
performance
strong
growth
in
was
driv-
healthcare
and life science applications during
MAKER of scientic equip-
2023, it also experienced signicant
ment has announced plans
growth
to
with China now constituting 20% of
expand
its
production
facilities in west Belfast to
Andor
The
manufacturer
strategically
Americas,
shifted
said
its
it
had
focus
to-
invest £15 million in acquiring and
less impacted by ongoing UK export
refurbished
licence restrictions.
next
to
its
23,000
base
sq
at
it
the
wards markets within China that are
the
said
and
will
ises
Technology
Asia
the company’s total revenue.
meet growing demand for its specialist camera products in China.
in
ft
prem-
Springvale
Business Park.
The
facility
autumn
2025,
its
search
expects
be
the
ex-
operational
signicantly
production
and
said
the
end
of
the
Covid-
Andor also said it plans to increase
R&D spending by 15% this year to
£5.2m
Kristian Laskey
related lockdowns in China had also
company
panded
ing
It
and
development)
in
contributed
enhanc-
R&D
(re-
capacity
to
the
strong
uptake
in the Asian market.
Andor
crease
also
R&D
said
it
spending
plans
by
to
15%
in Belfast.
Managing
es
value for our customers,” he said.
marked
in
Springvale
another
Business
key
Park
milestone
for
“Delivery against our strategy is
this
underpinned by our values and cul-
“We are incredibly excited about
ture. We have achieved these results,
exploring new ways of working, and
despite some signicant headwinds,
taking
due to the ingenuity and dedication
portunities that this investment will
dor Technology announced a 24% in-
cial success was underpinned by its
of our people, and we will continue
deliver for us and the local commu-
crease in annual turnover to £76.9m
strategy and people.
to invest in our employees by pri-
nity,” he added.
Laskey
in the year to March 31 2023.
said
“Our
The scientic equipment manu-
is
headline
focused
facturer ended the last nancial year
innovation,
with a pre-tax prot of £19.8m,
and
11% improvement on 2022.
an
the
on
company’s
strategy,
customer
operational
customer
Kristian
the business.
nan-
The announcement comes as An-
director
hancement, while offering increased
in-
year to £5.2m.
support,
which
oritising training, development, and
by promoting equality, diversity and
collaboratively
inclusion.”
Council
is
driving
sustainable growth and margin en-
T: 0800 9996055
advantage
intimacy,
excellence,
Gareth
Hetherington:
It’s the economy,
stupid - P26
The
the
managing
acquisition
of
director
new
said
premis-
“Our
focus
and
of
now
the
is
with
other
many
on
- P28
op-
working
Belfast
Michelle Lestas:
New year with an
old need for SMEs
City
stakeholders
to
progress this project within the de-
TO ADVERTISE IN OUR
BUSINESS SECTION CONTACT
SARAH HUGHES
078 1709 2664
S.HUGHES@IRISHNEWS.COM
sired timeframe.”
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