Seagate Technology has unveiled a package of investments centred on its wafer manufacturing plant at Springtown in Londonderry.

The company (www.seagate.com) will invest £47.4 million — supported by Invest Northern Ireland with an offer of £9.95 million — to enable further R&D in nano-photonics, cement the company’s position as a leader in world-class technology innovation, and create 25 skilled new jobs.

CEO Dave Mosley said: “Technology innovation is the cornerstone of our success, and the industry-leading innovation delivered by our facility in Springtown has been at the heart of our business strategy for the last 25 years.

“This investment extends a successful partnership with Invest Northern Ireland and will further strengthen our ability to deliver customer-centric technology leadership for the data-driven future of the global economy.”

Jeremy Fitch, Invest NI’s executive director of business solutions, said: “Seagate first came to Northern Ireland in 1994, investing £50 million and creating 500 new jobs.

“The facility now employs 1,400 people, and it is estimated that the company has invested more than £1 billion in capital here.

“We are delighted to be able to support this latest project, which will see 120 highly skilled researchers, including 25 new recruits, play a major role in the development of ground-breaking new technology.”