Electronics plant given £14m funding boost
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.