Lenalea Electronics is investing more than £1 million in a new 16,000 sq ft factory in county Armagh and increasing its workforce from 25 to over 30 as a result of business expansion.
The new facility, currently being constructed on the Fairgreen Road in Markethill will produce circuit board assemblies for clients in sectors including quarrying, scientific research, and consumer electronics.
The company, which has customers across the UK and Ireland, as well as in Europe and North America, was founded in 2000 at its current location in Markethill Business Centre.
“We have always prioritised re-investment in the business, and this current step, supported by Ulster Bank, will be a significant move forward for the company,” says Lenalea Electronics’ David Foster, “it will enable our current phase of growth, and provide capacity for further expansion into the future.”
“Lenalea Electronics has been an Ulster Bank customer since the company was founded in 2000, and we are very pleased to have supported such an innovative business from start-up phase through to its current position,” SAYS Ulster Bank’s Sheila Donaghy.
SOAR (Southern Organisation for Action in Rural Areas) is funding the new facility through its Rural Business Investment Scheme which is part-funded under Priority 6 (LEADER) of the Northern Ireland Rural Development Programme 2014-2020 by the Department of Agriculture, Environment and Rural Affairs and the European Union.
Lenalea Electronics has also benefitted from support from Invest Northern Ireland towards the fit out and tooling of the new factory, which is expected to be operational before the end of the year.