Greenock Diodes plant given further £14m investment boost

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Business Round-Up – 6 January 2020

Greenock Diodes plant given further £14m investment boost

Diodes - Dr Gerry McCarthy

Diodes Incorporated

Diodes electronics plant in Greenock which was was threatened with closure last year is to receive nearly £14m in additional funding.

The funding from Scottish Enterprise is part of a £47m investment deal so owners Diodes can upgrade the site and train the 300-strong workforce.

Semiconductor manufacturer Diodes International took over the site from Texas Instruments (TI) last year. This followed an announcement by TI that it intended to move the plant to a more “cost-effective” site abroad.

The new funding package will see £12m invested in research and development to help develop technologically-advanced transistors at the site.

Diodes Plant – Greenock

A further £1.7m will go towards a training programme for workers.

The company has also received £169,500 from Inverclyde Council to assist with development of the site.

For more information on Diodes Incorporated, please click here.

Diodes are a key sponsor of Inverclyde Chamber of Commerce. For more details on membership with ICC, click here.

Article courtesy of BBC News

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