A major investment by US-owned B/E Aerospace, a leading manufacturer of civilian aircraft interior products, will create 64 new jobs and safeguard the jobs of 298 people currently employed at its subsidiary in Kilkeel in Northern Ireland.
B/E is investing £17 million sterling (€27.58 million) to develop its Co Down plant as the group's only production unit for its complete range of aircraft seats.
The Florida-based aerospace group decided to focus its seat-manufacturing operation at Kilkeel as part of a major cost reduction programme following the serious difficulties experienced by the international airline industry after the events of September 11th, according to its group vice-president and general manger, Mr Michael Baughan.
"As a result of its consolidation programme - announced in October 2001 - and the strengthening economic recovery in the US and other markets, B/E Aerospace now expects to see significant growth later this year," said Mr Baughan.
"Our decision to develop Kilkeel as our seat-manufacturing centre was influenced by the lower operating costs here, the plant's strong relationships with many of the world's leading airlines and the 'can do, will do' attitude of its managers and employees."
Mr Baughan also cited the adaptability and flexibility of the employees as reasons for moving seat-manufacturing to Kilkeel.
B/E was also offered £4 million in selective financial assistance towards the cost of the investment by Northern Ireland's Industrial Development Board.
B/E previously announced plans to close five plants and reduce its workforce by 1,000 to 3,650 as part of its restructuring.
The Kilkeel plant won out over B/E's factory in Litchfield in Connecticut in the US, which is closing with the loss of 380 jobs.
Sir Reg Empey, the Minister of Enterprise, Trade and Investment in the Northern Ireland Executive, described the investment as a significant boost and a "massive endorsement" of Northern Ireland as an international industrial location.
"The presence of acknowledged world-leading companies supports our efforts to accelerate economic growth and to expand employment opportunities by attracting further investment from aerospace and other technology-driven industries," he said.
