Published Tuesday, 13 November 2012
The First and deputy First Ministers are on a trade mission in China. (© Presseye)
Peter Robinson and Martin McGuinness were in Shanghai when they announced the million-pound orders from China that have been secured for Yelo.
Yelo designs and manufactures automated test equipment for the electronics market.
As market leader, Yelo distributes its products in North America, Europe and Asia, and its customers include Fortune 500 corporations, universities and research establishments.
The company has secured three new clients in China, based in Beijing, Shenzhen and Shanghai, who have purchased systems used for testing broadband and data storage equipment.
Welcoming the £1m investment, the First Minister said: "The success of Yelo in winning business worth £1m in China strengthens our conviction that our companies, both large and small, have the leading-edge technology and expertise that China requires.
The Executive is committed to developing strong trade links with China and is ready to work alongside our companies to help them harness the very real business opportunities that are developing in one of the world's most dynamic markets.
First Minister Peter Robinson
The deputy First Minister said: "The scale of this important mission, among the biggest from here in recent years, shows the strength of interest in China from our local companies.
"Yelo's increase in orders in China underlines the growth potential in this vast marketplace. We want to grow and strengthen our economy by opening up new markets for business and explore new opportunities through investment in science, research and technology.
"We share a commitment with China to invest in our young people and encourage education exchanges by collaborating with universities right across China."
David Simms, Yelo's Sales and Marketing Director, said: "Our technology enables laser manufacturers and their clients to determine the lifetime of a laser and also to prevent early failure in the field.
"They commissioned us to develop very reliable test systems within a very short lead time. We achieved this by quickly customising our main product to suit the widest range of lasers. Invest NI helped us to take part in two major trade shows in China, which produced contacts that led directly to the new business.
"Furthermore, Invest NI assistance has helped us to quickly become a market leader in both high and low power laser test systems. In fact, we can lay claim to having worked with more laser types than any other company worldwide."
Enterprise Minister Arlene Foster, who was also in Shanghai, added: "China and other fast-growing Asian economies are increasingly important to Northern Ireland as we seek to further boost our exports.
"Businesses must grasp these opportunities if we are to transform Northern Ireland into a vibrant, private sector-led economy."
© UTV News