Tánaiste announces new International Headquarters for Transas in Cork to create 30 new jobs

Tánaiste and Minister for Enterprise, Trade and Employment, Mary Harney T.D., announced today (Thursday 4^th December 2003) that Transas Ltd., an international manufacturer and supplier of software, information technology solutions and integrated systems for the marine industry, is to establish its International Headquarters at Eastgate Business Park, Little Island, Cork, with the support of IDA Ireland. It will manage Transas' international business and will create 30 new jobs within three years. Due to the need to commence operations quickly recruitment is already underway.

The Tánaiste, welcoming the investment, said "Transas is a well established player in its sector, with a wide international market for its products. This project is in line with this Government's strategy of attracting high quality investments to Ireland."

Transas' main areas of activities for the marine industry include electronic cartography, navigational systems and integrated bridge solutions, control and monitoring systems, vessel traffic management systems, marine pollution incidents response and management systems and a wide range of training simulators.

The Cork operation will co-ordinate and manage Transas' worldwide operations, supporting subsidiaries and companies in Russia, UK, USA, Germany, Sweden, China and Singapore. The establishment of its international headquarters in Cork will allow Transas to operate its business in a more efficient and effective manner through the centralisation of its group functions, such as finance, accounting, sales, marketing, information technology support and business development.

Transas Holdings Limited, the holding company for Transas Ltd., is located in the Isle of Man and is owned by the original founders in St. Petersburg, Russia, where its technology development centre is located, and international business partners. It was established in 1990 and employs 440 people worldwide.

In addition to operating through subsidiaries and companies in Russia, UK, USA, Germany, Sweden, China and Singapore, Transas' provides and supports its products in over 70 countries through a distribution network and strategic partnering relationships. Its clients include the Irish Navy, British Royal Navy, US Navy, Maersk Shipping Lines and Exxon Shipping and projects throughout the world that are financed by the EU. Transas Group had sales of over €25 million in 2002.

ENDS/ETE1167