Elec­tron­ics plant given £14m fund­ing boost

Evening Times - - NEWS -

AN Amer­i­can firm that took over a Greenock fac­tory has been awarded al­most £14mil­lion of pub­lic cash to help cre­ate a cen­tre of ex­cel­lence at the site.

First Min­is­ter Ni­cola Stur­geon con­firmed US-based semi­con­duc­tor man­u­fac­turer Diodes is to re­ceive £13.7m of fund­ing from Scot­tish En­ter­prise.

The money will go to­wards a £47m project aimed at grow­ing its busi­ness in In­ver­clyde.

Tim Mon­aghan, the com­pany’s Euro­pean pres­i­dent, said it was look­ing to es­tab­lish a “cen­tre of process devel­op­ment ex­cel­lence”.

Diodes ac­quired the for­mer Texas In­stru­ments busi­ness in April 2019, safe-guard­ing all 300 jobs there, in a deal that was bro­kered by Scot­tish En­ter­prise, the Scot­tish Gov­ern­ment and In­ver­clyde Coun­cil.

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