e2v Reports Strong Year and Invests in UK Manufacturing
After reporting a 13 percent sales growth in the last year, e2v has also announced significant investment in additional research, development and expanded production at its Chelmsford, UK, headquarters. This project, backed by a £6.2 M grant from the Regional Growth Fund (RGF) administered by the UK Department for Business Innovation and Skills (BIS), will see the creation of more than 100 new jobs at the company by 2014 together with supporting academic posts at the company’s research partner Nottingham University.
It is anticipated that the project will generate or secure a total of 427 jobs in Chelmsford and Nottingham over the next decade, together with more than 350 jobs in e2v’s supply chain around the UK. The investment will be used to accelerate the development of e2v’s products and services within its new Industrial Processing Systems group.
Trevor Cross e2v’s Chief Technology Officer said, “This project is part of our strategic plan for growth. The news of the award, alongside our strong performance for the year, puts e2v on a strong footing and is testament to the hard work and determination put in by our people to make e2v the successful company we see today”.
e2v’s bid for funding was supported by local Member of Parliament, Simon Burns, who said, “This is very good news for e2v and the local community. Over the last 20 years, manufacturing and technology businesses have steadily declined in the region. e2v in Chelmsford has bucked that trend. Firmly rooted in high technology manufacturing, and exporting more than 80 percent of its finished products, this is a great news story for Chelmsford, manufacturing in the UK and exports.”