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.
CEM Systems, a U.S. owned company that develops software for surveillance technology, is to create 100 new jobs in Belfast with the development of its new 17 million GBP engineering and research centre. The jobs will be created over the next three years. CEM Systems' new recruits will work on projects such as developing software for video surveillance cameras. The company said its centre of technical excellence would increase the competitiveness of its product engineering and design. The investment has been supported by an offer of a 1.75 million GBP Invest NI grant, and recruitment has already begun. The company develops security equipment, including ID access control and audio/video intercom. At the moment, the company employs 47 people at its Ravenhill Road premises.
A government official said it was a significant investment by a blue chip organisation which would help sustain growth in the valuable ICT sector. Making the announcement, the Department of Enterprise, Trade and Investment's Stephen Quinn said it sent out 'a clear message that Northern Ireland has a knowledge-rich technology infrastructure, and a highly talented workforce that can add value to the operations of global companies'.
Don Lyman, director of CEM Systems, said they assessed a number of locations and Northern Ireland had met all their requirements.
'The new centre of technology excellence in Belfast will enable us to make major global advances in the area of digital internet protocol (IP) applications,' he said.
'(This is) thanks to the strong local skills base and a specially designed research and development and product engineering facility.'
Eurofound (2006), CEM Systems, Business expansion in United Kingdom, factsheet number 64414, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/64414.
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