Business

Expansion by Yelo creates 15 new roles

FIFTEEN high-salaried jobs are being created in Carrickfergus as part of a £1 million expansion by technology firm Yelo.

The company has developed automated technology that ensures social media sites such as Facebook and YouTube function efficiently. And growing demand for its innovative technology has prompted the company into an expansion project which includes a £241,000 spend in research and development to enable it to expand its product range and target new export business. Formed in 2010 following a buy-out of the then Canadian-owned business by its management team of Richard Furey, Dave Sinclair and David Simms, Yelo has a staff of 26. Sales and marketing director Mr Simms said: "The business we've been winning from major corporations in the US and China shows we can compete in these challenging markets because of the quality of our systems and the professional services we provide. "This investment, helped by over £230,000 of financial support from Invest NI, is designed to strengthen our competitiveness and to build on our reputation, especially in the photonics market and our aim is to double turnover by 2016."

Jeremy Fitch, Invest NI's executive director of business and sector development, said: "Yelo has established an impressive track record in international markets as a leader in the development of electronics testing and measurement equipment.

"As a result of its focus on innovation for global markets, it now exports over 80 per cent of its equipment to high-end customers in strategically important industries. "Its investment, including expenditure on R&D, will help to further enhance its position as an innovator particularly in photonics, and 15 high-end electronics and software engineering jobs will be created over the next three years." In recent months Yelo secured new contracts in the US worth more than £500,000 for its laser diode test systems. Yelo's customers include major US corporations like Kaiam Corporation, a specialist video streaming, smart phones and cloud computing.

? SYSTEMS: David Simms, Yelo sales and marketing director, left and Jeremy Fitch, Invest NI's executive director of business and sector development

PICTURE: Andrew Towe/Parkway Photography