Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Software company Northbrook Technology is to create 400 jobs in Northern Ireland as part of a £23m expansion. The firm already employs 1,400 people at locations in Belfast, Londonderry and Strabane. The company, a subsidiary of one of the biggest personal insurance companies in the United States, set up in Northern Ireland in 1998. The jobs are expected to be divided between the company's Belfast and Derry bases. Northern Ireland's economic development agency, Invest NI, has provided £5.6m aid towards the total investment. Its chairman Stephen Kingon said: 'Today's announcement underpins Northbrook's long-term commitment to Northern Ireland and sends a clear message that Northern Ireland can be a serious contender in the global software market.'
Bro McFerran, Northbrook managing director, said: 'This investment and the continued support from Invest NI will enable Northbrook to carry out higher value software development and will expand our range of products and services.'
'Our increased capability will give Northbrook a stronger, more competitive position in the international financial services market.'
'Only by a continued investment in people and skills can we sustain our position as a leading player in an increasingly competitive global market.'
Eurofound (2006), Northbrook Technology, Business expansion in United Kingdom, factsheet number 64134, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/64134.
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