Monday, January 27 14:33:26
Multinational fire protection and security company, Tyco, is to establish a business services centre in Cork with 500 over the next three years after the firm had quit Ireland five years ago, shedding 500 jobs then.
The company said it has committed to return with a new division of the business.
The new centre in Cork city is being designed to allow the company to improve efficiencies in some support functions including sourcing and procurement, customer service, research and development, information technology and finance.
Tyco has recorded annual revenue of more than $10 billion and has more than 65,000 employees in 1,000 locations in nearly 50 countries and more than 3 million customers.
Minister for Jobs Richard Bruton announced the investment, which is backed by IDA Ireland.
"Today's announcement that Tyco is establishing an operation in Cork with the potential to create more than 500 jobs is a huge boost for the city and for Ireland, " he said.
Tyco previously had manufacturing operations in Bishopstown, Cork and in Shannon where anti-theft tags and other electronic components were made up until 2008.