A Limavady company is creating five new high-grade engineering jobs, thanks to a £376,000 new investment.
Avex Cable Jointing, based in Limavady, has been assisted by Invest Northern Ireland to invest £376,000 and create five new high value jobs to expand their business operations in Britain.
Invest NI has offered financial assistance of £47,500 towards the expansion and the new posts, which are already in place and have an average salary of £37,600.
Des Gartland, Invest NI’s North West Regional Office Manager said: “Our assistance has been shaped to enable this specialist business to deploy additional resources on the existing work it has won from industry leading contractors and to develop opportunities it has also identified in the power sector in Britain.
“This is an important strategic investment for Avex which will strengthen its position in a dynamic and exacting industry and will also provide good quality and well-paid employment opportunities for skilled engineers,” he added.
Avex, a specialist contractor for the power industry operating throughout the UK and Ireland, was founded in 2010 by Ryan Kelly and Thomas Woodend following successful careers with an electricity distribution company.
Mr Kelly, commenting on the expansion, said: “This important expansion will enable us to enhance our relationships with major contractors by providing additional resources that will mean we will be able to expand the highly skilled services we offer them.
“Our strategic focus is on becoming the preferred specialist in power cable jointing services for leading infrastructure contractors who are key clients for the leading distribution network operators in the UK and Ireland and further afield.
“Invest NI’s practical support and advice has been invaluable in helping us to develop our new business growth strategy and also in strengthening our resource base,” he added.
Avex has further benefited from Invest NI support in the form of financial assistance through the Interim Manager Scheme to fund the employment of an experienced manager to help the company manage its growth and seek out new business opportunities.
The company, which now employs 26 people in Limavady, is also working with a power industry training body with a view to employing apprentices to further enhance their workforce.