4 March 2010: PAS Technologies officially opens leading-edge R&D centre in Cork and signs major $11 million contract with Siemens
Cork, Ireland, 4th March 2010 ---- Mr. Billy Kelleher, T.D., Minister for Trade and Commerce , today performed the official opening of a new €1.6m leading edge R&D operation of high performance aviation and industrial repair service provider, PAS Technologies, in Cork. The investment is supported by Government through IDA Ireland and is anticipated to create 10 high-value positions, with recruitment already underway at the operation.
The Minister also witnessed the signing of a major $11 million contract with Siemens Sweden at the company’s operation in Carrigtwohill, Co. Cork today.
PAS Technologies’ principal activity is the repair, refurbishment and remanufacture of components of gas turbine engines used in the utilities and power generation sectors.This highly innovative R&D centre will be responsible for the development of advanced technology component repair services for land based turbine engines, which are used to power electricity generation stations, pump oil and gas and to power ships, desalination plants, and factory utilities. The Irish operation is responsible for developing and embracing new capability and technology on behalf of the wider PAS Group, developing materials, processes and tooling to service and repair components of land-based turbines. Recognising this capability Robert Weiner President and CEO of PAS Inc has appointed the Irish operation as the lead company within the group for Industrial gas turbine business growth globally.
Speaking at the event, Minister Kelleher said: “Today’s announcement is a major endorsement of the knowledge, expertise and infrastructure which exists in Ireland for the successful implementation of highly innovative R&D. The technology developed by PAS Technologies Ireland is innovative, leading-edge and highly significant within the PAS Group. Embedding the entirely new R&D capability in the Cork operation will add a new dimension to its operations here. An investment such as this further highlights that regional locations in Ireland are at the forefront of technology development and builds on the Government’s strategy to develop a Smart Economy”
For some years now PAS have been developing a business relationship with Siemens. Siemens have a historic and successful relationship with Ireland and were literally one of the driving forces behind the success of the nascent state through the Shannon Scheme and electrification process, beginning in the 1920s. The firm’s connection with Ireland has continued to this day, epitomised by the signing of this $11,000,000 contract.Today’s contract signing is also testament to the skills, knowledge, hard work and dedication of the Carrigtwohill workforce.
Commenting on the contract signing, Denis McGrath, Managing Director, PAS Technologies Ireland Ltd, and Vice President of Global Industrial Gas Turbine Business PAS Inc, said: “This signing is a very significant event in the history of the company. In line with company strategy and Irish Government policy, we in PAS Technologies have been focusing on adding value to the services we provide to our customer base. Driving growth through research and innovation in enterprise is stated government policy and is coincidentally the PAS philosophy also. In an increasingly competitive global landscape companies have to differentiate their offerings and provide services and products to clients that establish long-term meaningful relationships. While Ireland is a small open economy, we are highly globalised, and known worldwide for our talent and skills. We offer a high quality product allied with an understanding of international business needs and a culture that spans East and West and an ability to produce product that is demanded internationally.”
Mr McGrath continued, “As Managing Director of this facility I am grateful that Siemens have recognized and endorsed our engineering and turbine processing capabilities. I am particularly pleased that the Irish government, represented by Minister Billy Kelleher T.D., and IDA Ireland are here today to lend their support and in doing so demonstrate to Siemens and the business world how important this contract is to this facility and to Ireland”
Source – IdaIreland.com