NEWS


Companies in Northern Ireland report surge in confidence


Northern Ireland companies reported strong growth in their order books, which boosted confidence last month, according to a survey by Ulster Bank. Every month the bank asks firms across the


private sector about issues such as staffing levels, exports and new orders, and it is considered a reliable indicator of economic performance. It suggested that the private sector started 2024 in a stronger position than that on which it ended 2023. Ulster Bank’s chief economist, Richard Ramsey, said optimism was at a 32-month high. “The biggest surprise in the latest survey was


the surge in business confidence,” he said. “Local firms were their most optimistic about future output levels since May 2021. The positive sentiment was evident across all four sectors.” Mr Ramsey said the renewed optimism was


linked to the launch of new products and higher orders.


Three of the four sectors – manufacturing,


services and retail – all reported an increase in business activity in January, with only the construction sector reporting a fall. Mr Ramsey said a notable pick-up in domestic demand led to the first rise in new orders in eight months. Manufacturing, services and constructions


firms all took on more staff last month, with only retailers reducing their staffing levels for the first time in more than a year.


Glen Dimplex to close Portadown manufacturing site with 200 jobs at risk


Southern region is a leader in digital


transformation Paul Kelleher, AmCham Southern Region chair said that strengthening Ireland’s position as a digital regulatory hub within the European Union will help to spur research and innovation investment. According to a recent AmCham


Newry-founded domestic appliance group Glen Dimplex is closing its manufacturing base in Portadown, with around 200 jobs expected to go in Northern Ireland over the next two years. The company said it will invest €25 million in its Newry site, which will be repurposed into a centre of excellence for the manufacture of zero carbon, renewable heating solutions including heat pumps. But the reorganisation will see panel and


storage heating manufacturing transferring from the group’s sites in Newry and Portadown to a


6 February 2024 Irish Manufacturing manufacturing site in Lithuania. Glen Dimplex said that under the proposal,


the Portadown site will close, most likely in 2025, with some staff redeploying to Newry, where it said “operations will evolve significantly”. Around 200 people are employed at the


Lurgan Road site in Portadown, which specialises in heating and ventilation products. The company said while the restructuring plan will see around €40m invested within its island-wide operation, many jobs will go in the short-term.


Quarterly FDI Insights survey, 86% of respondents in the South and South-East region are currently undertaking at least one research project in Ireland. Digital manufacturing was among the top areas of research for companies in the South and South-East region with 42% of respondents saying they were undertaking a research project in this area. Cyber and AI were also popular research areas among members with 28% of respondents in the South and South-East region undertaking projects in both areas. Mr Kelleher said: “AmCham and our members understand that data, digital and cyber play a fundamental role in supporting the Irish economy. “In line with this, AmCham has outlined its ambition for Ireland to be a global centre of research excellence in digital manufacturing and No1 in the EU for research in AI, cyber, and quantum computing by 2050.” AmCham has recommended a focus on increasing Ireland’s expenditure on RD&I and in that context notes the ambition of the Department of Enterprise, Trade and Employment’s White Paper on Enterprise 2022-2030 to increase spending on RD&I to 2.5% of Gross National Income (GNI) by 2030.


“Such investment would support the


development of innovation but would also promote a greater culture of research in Ireland,” Mr Kelleher said.


www.irish-manufacturing.com


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