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| Greenock Diodes plant given £14m investment boost | Greenock Diodes plant given £14m investment boost |
| (about 7 hours later) | |
| An electronics plant in Greenock that was threatened with closure last year is to receive nearly £14m. | An electronics plant in Greenock that was threatened with closure last year is to receive nearly £14m. |
| 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. | 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. | Semiconductor manufacturer Diodes International took over the site from Texas Instruments (TI) last year. |
| It followed an announcement by TI that it intended to move the plant to a more "cost-effective" site abroad. | It 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 a five-year research and development project to help develop technologically-advanced transistors at the site. | |
| A further £1.7m will go towards a training programme for workers. | 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. | The company has also received £169,500 from Inverclyde Council to assist with development of the site. |
| First Minister Nicola Sturgeon, who visited the wafer fabrication facility (GFAB) on Monday, said the funding package would help Diodes advance its research, develop new processes and products and make its systems more efficient and effective. | |
| She added: "The Scottish Enterprise funding reinforces Inverclyde's prominence as an important area for manufacturing and business. | |
| "I applaud Diodes' faith in its Greenock workforce." | |
| Diodes' European president Tim Monaghan said: "With Diodes' expertise, the high calibre of the GFAB workforce, and support from Scottish Enterprise, I am excited by the opportunity we are creating to progress even further, building on our manufacturing capabilities to create a centre of process development excellence in GFAB." |