Diodes Incorporated has received a £13.7m funding package from Scottish Enterprise towards a £47m project driving future growth at its wafer fab in Greenock, Scotland. The company completed its acquisition of the former Texas Instruments business in the town in April last year with 300 jobs on the site.
The funding package that has been agreed, consists of a £12m research and development (R&D) grant towards a five-year project to develop more technologically-advanced transistors and £1.7m towards a £3.4m training programme to enable employees to support this change. The company has also received £169,500 from Inverclyde Council to assist with development of the site.
Diodes has identified the fab as Greenock as being integral to its long-term growth objectives. The site has room to expand in development, manufacturing and test but highlights the highly-skilled workforce of engineers, operators and support staff as the key to growth.
"Almost £14 million from Scottish Enterprise will help Diodes advance their research, develop new processes and products and make their systems more efficient and effective," said Scottish First Minister Nicola Sturgeon (above, right). "The Scottish Enterprise funding reinforces Inverclyde's prominence as an important area for manufacturing and business. I applaud Diodes' faith in its Greenock workforce. Scotland has an innovative and diverse manufacturing sector with companies successfully competing in international markets."
"We were very pleased to welcome the First Minister to GFAB and to show her the advances that have been made since Diodes' acquisition of the plant. GFAB has a long-standing and highly valued relationship with Scottish Enterprise and we look forward to this continuing," said Tim Monaghan, European President of Diodes. "With Diodes' expertise, the high calibre of the GFAB workforce, and support from Scottish Enterprise, I am excited by the opportunity we are creating to progress even further, building on our manufacturing capabilities to create a centre of process development excellence in GFAB."