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| Version 1 | Version 2 |
|---|---|
| Derry-based firm Maydown Precision Engineering to create 40 jobs | Derry-based firm Maydown Precision Engineering to create 40 jobs |
| (35 minutes later) | |
| A Londonderry-based engineering firm is to create 40 jobs after bringing a new investor on board. | A Londonderry-based engineering firm is to create 40 jobs after bringing a new investor on board. |
| Maydown Precision Engineering (MPE) will create the jobs after Manchester-based A2E Venture Catalysts bought a majority stake in the company. | Maydown Precision Engineering (MPE) will create the jobs after Manchester-based A2E Venture Catalysts bought a majority stake in the company. |
| It did not disclose how much it had paid for the shareholding. | It did not disclose how much it had paid for the shareholding. |
| MPE supplies parts to major aircraft manufacturers Bombardier, Airbus and Boeing. | MPE supplies parts to major aircraft manufacturers Bombardier, Airbus and Boeing. |
| It currently employs 135 staff in Derry and has started recruiting for a further 40 engineering jobs. | It currently employs 135 staff in Derry and has started recruiting for a further 40 engineering jobs. |
| Amin Amiri, the owner of A2E, has become a majority shareholder in MPE alongside its managing director Sean Phelan. | Amin Amiri, the owner of A2E, has become a majority shareholder in MPE alongside its managing director Sean Phelan. |
| 'Greatly enhance' | 'Greatly enhance' |
| Mr Amiri said £2.5m would now be invested in the company's plant and machinery. | Mr Amiri said £2.5m would now be invested in the company's plant and machinery. |
| He expects the business to grow by as much as 25% per year. | He expects the business to grow by as much as 25% per year. |
| "Our desire is to greatly enhance the expertise and capacity of MPE, and our vision is to surpass being a supplier and to become the strategic partner of choice for our existing and future customers," he said. | "Our desire is to greatly enhance the expertise and capacity of MPE, and our vision is to surpass being a supplier and to become the strategic partner of choice for our existing and future customers," he said. |
| Mr Phelan said A2E would be a "strategic and long-term investor" in the business. | Mr Phelan said A2E would be a "strategic and long-term investor" in the business. |
| He added that the "specialist workforce" would be increased by 40 jobs "in the near future". | He added that the "specialist workforce" would be increased by 40 jobs "in the near future". |
| Corporate finance advisers Horwood Neill Holmes (HNH) brokered the deal for Maydown. | Corporate finance advisers Horwood Neill Holmes (HNH) brokered the deal for Maydown. |
| Craig Holmes from HNH said: "It is great to see another Northern Ireland company attract outside investment to help realise its growth ambitions. | Craig Holmes from HNH said: "It is great to see another Northern Ireland company attract outside investment to help realise its growth ambitions. |
| "MPE has a blue-chip customer base and will enhance sales globally following this investment." | "MPE has a blue-chip customer base and will enhance sales globally following this investment." |
| Derry Mayor Brenda Stevenson said she was "absolutely delighted". | Derry Mayor Brenda Stevenson said she was "absolutely delighted". |
| "Obviously these are high-end jobs, and Derry is an unemployment blackspot, so this is a really good news story," said the SDLP representative. | |
| "We've got highly skilled people out there who are well-trained, so hopefully this will give them a boost and a bit of hope that they need." | "We've got highly skilled people out there who are well-trained, so hopefully this will give them a boost and a bit of hope that they need." |
| Sinn Féin assembly member Raymond McCartney said it was "a great boost for the local economy". | |
| "The confidence of this investment will also send a positive message that the North West is competitive and a good place to invest," he added. |