A £4.4m investment by engineering company TES (NI) Ltd could double the company’s workforce to 90, over the next three years.

TES, based in Derryloran Industrial Estate in Cookstown, designs and builds electrical control panels for a range of applications, including state of the art water and wastewater treatment facilities.

Welcoming the investment, the Minister said the drive and commitment shown by TES is to be congratulated.

“TES is an excellent example of a locally-owned business which is growing through a combination of commitment to developing new products, processes and services and successfully targeting markets outside Northern Ireland.

“This investment, with Invest NI support of £345,000, will help TES accelerate and continue growth through new products and services. Over the next three years the company expects to double its exports, sales and employment,” she said.

The £4.4million investment will facilitate the provision of new factory facilities, capital equipment and IT systems.

It will also strengthen the existing management team and allow the implementation of a structured training programme, new product and services development and increase marketing expenditure.

Brian Taylor from TES, said they have set ambitious targets for further growth, including that to achieve 74 per cent of sales from outside Northern Ireland by September 2010.

“We are confident that this investment, coupled with the ongoing support we receive from Invest NI, will provide the foundations for us to achieve this,” he added.

Cookstown Cllr and Mid-Ulster MLA Ian McCrea welcomed the news of investment in the district:

“This is great news for the town, and Mid-Ulster in general,” he toild the MAIL.

“It’s fantastic that a local company are investing this amount at a time when financial worries are widespread across the UK.

“Companies like TES and Moyola Precision Engineering who announced a major investemnt a couple of weeks ago should be congratulated for their foresight and success which is excellent in promoting Mid-Ulster as a thriving business community.”