Telecoms operator Eircom says that it is no longer going to proceed with plans for an IPO because it sees encouraging signs of momentum in its business and may not need to raise capital on the markets.
Dublin: 20.09.2014 05.00PM
Chip giant Intel, which on Thursday posted revenues of US$43bn for its financial year, has revealed plans to begin a substantial new US$500m construction project at its Leixlip campus, where it already employs around 4,000 people.
The project will create 200 high-level technology jobs, as well as 850 construction jobs.
IDA Ireland CEO Barry O’Leary, speaking during an IDA marketing initiative in California earlier today, welcomed this weekend’s decision from Intel to begin a US$500m construction project at its Leixlip technology campus.
Intel Corporation, on Thursday posted record revenues for 2010 of more than US$43bn and forecasts continuing growth in worldwide demand for Intel’s products and services in 2011. This infrastructure project will create a further 850 construction jobs on the Leixlip campus. The company will also be creating 200 new high-level jobs on the Leixlip campus as a result of this technology upgrade.
“The fact that a global leader such as Intel, which has already invested close to US$7bn in Ireland, has chosen to invest a further $500m here is an enormous vote of confidence and endorsement of Ireland as a competitive location for global investment,” said O’Leary.
“Intel is a bell-weather company and this is a significant strategic investment for Ireland. Given that the initial impact over the next two years will result in over 1,000 jobs between construction, contract and full time employment it is immensely positive news”.
“High-end manufacturing will continue as a key strategic feature of Ireland’s economy, and capital investment of this scale with the associated investment in training and up-skilling is what will truly transform the Irish economy," he added.
“Not only do I welcome this wonderful news but I sincerely congratulate Intel Ireland general manager Eamonn Sinnott and his management team in Leixlip for securing such a large investment in the current economic climate and I wish both them and all the employees every success in the future.”