Diodes Incorporated received £13.7 million in funding for development in Greenock, Scotland
In April last year USA-headquartered Diodes completed its acquisition of the former Texas Instruments business (GFAB) in Greenock, Scotland. Recently, Diodes Incorporated announced that is has received a £13.7m funding package from Scottish Enterprise towards a £47m project enabling its future growth in Greenock.
According to Diodes Incorporated, 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 enhancing the company’s already highly-competitive portfolio – 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 GFAB as being integral to its long-term growth objectives. The site has room to expand in development, manufacturing and test and – most critically – has an efficient and highly-skilled workforce of engineers, operators and support staff.