Schrader Electronics to invest £14m in new car product research

One of Northern Ireland's leading manufacturers is making a £14m investment in the development new products for the car industry.

Schrader Electronics, which is owned by the US firm Sensata Technologies, said the money will be used at its research and development centre in Antrim.

It specialises in making tyre pressure monitors and other sensor equipment.

Last February it announced it was axing 125 jobs at its Carrickfergus plant due to a drop in demand for some products.

Six research projects are to be funded, with Invest NI contributing £3m.

Other money will come from the European Regional Development Fund.

Graeme Thompson, managing director of Schrader, said: "This significant investment will help ensure our centre in Antrim grows and remains competitive.

"Our ambition is to develop an R&D centre of excellence in Northern Ireland."

Invest NI said the move would mean new products are developed to generate sales in emerging markets.

The company has two sites in Northern Ireland.

Sensata has been in Northern Ireland since its 2014 acquisition of Schrader Electronics, which was founded in 1988.