Second Taiwanese investment secured by IDA Ireland - Tánaiste £1.4 million investment to create 30 new jobs for Carrick-on-Suir - Harney

Tánaiste Mary Harney T.D., today (Tuesday 26 October 1999) announced that IDA Ireland has successfully concluded negotiations with a Taiwanese company, Chia Cherne Cable Company Ltd, to locate an operation in Carrick-on-Suir, Co. Tipperary. The company will create 30 new jobs over the next three years in the production of cable and cable housings for use in bicycle brakes and gear changing applications. Three-quarters of the jobs will be at production level and about 15% will be filled by graduates.

The news comes just five months after the first ever investment from Taiwan was announced for Mullingar.

The Tánaiste said, “Chia Cherne is the second Taiwanese project to locate in Ireland and is an excellent example of the type of companies that IDA Ireland is targeting in Taiwan. With a strong and respected track record in its industry the company will be a valuable reference for IDA Ireland in its on-going marketing in Taiwan.”

Chia Cherne Cable Company Ltd, a small family owned company specialising in a niche market of the worldwide bicycle industry, is investing £1.4 million, with the support of IDA Ireland, in establishing its European manufacturing facility in Carrick-on-Suir.

Chia Cherne is establishing the Irish operation in order to improve delivery times to its European customers, and to provide additional capacity to enable it to increase its share of the growing European market. The company has started to carry out building modifications and to install new custom designed equipment at an existing 20,600 sq. ft. building in the town, which is ideally located to supply two of its principal customers in Ireland – Sram in Carrick-on-Suir and Trek in Carlow.

Chia Cherne Cable Company Ltd, of Changhua City, was founded in 1986 and employs 90 people. It is an established supplier to the major bicycle manufacturers and is a market leader in its business in Asia, Europe and the US. The company has evolved into a highly automated operation with continuous new product development, such as Teflon coating of the brake wire, being carried out in conjunction with the major bicycle manufacturers. As a global supplier its customers include Sram and Cannondale in the US, Trek and Raleigh in Europe and Giant and Merida in Asia.

The Tánaiste concluded by giving an update on the first Taiwanese investment to locate in Ireland, announced by her in May of this year. “Hon Hai Precision Industry Co. Ltd. of Taipei has commenced operations in Mullingar, Co. Westmeath, and following a very rapid build-up has already recruited over 100 people. Its operations involve two projects – Foxteq Engineering (Ireland) Ltd which plans to employ 350 people in the manufacture of personal computer enclosures for leading manufacturers, mainly Dell and Apple, and Foxconn Ireland Ltd which will employ 150 people at its first European design and low volume production centre for specialised electronic components,” she said.