Valeo and Fidessa to expand

ANOTHER 190 jobs are coming on stream in the financial software and automotive sectors.

French motor parts group Valeo will announce a £17 million expansion of its Tuam plant this morning, with the creation of 100 jobs.

Valeo Vision Systems is investing in RD as well as expanding its manufacturing operations. The RD will focus on developing next generation in-car camera systems to assist parking or manoeuvring.

The announcement will be made at the plant by incoming minister for Enterprise Mary Hanafin. The jobs will be created over the next three years. The Tuam plant was originally Connaught Electronics until acquired in 2007 by Valeo.

Fidessa, the British specialist financial software to services group, announced yesterday that it was expanding its Northern Ireland operation in a move that will create 90 additional jobs.

The company plans to increase its investment in the North with financial assistance from Invest Northern Ireland worth a potential £970,000 (€1,144,000).

Fidessa has more than 900 customers and its products are used by leading equity brokers and asset managers.