H360, a spin out business from SJC Hutchinson Engineering, is investing £400,000 and is planning to create six new jobs over the next three years.
Invest NI has offered the new company export start assistance of £50,000 towards eligible costs of £187,000.
Announcing support for the new company, Des Gartland, Invest NI’s North West Regional Office Manager in Londonderry, said: "H360 carries forward the experience, knowledge and skills of a longstanding and successful engineering business into a new market area that it has pinpointed through extensive research and feedback from customers.
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"Our support is in line with Invest NI’s focus on promoting the growth of entrepreneurial companies offering added value services especially to markets outside Northern Ireland.
"This investment in a predominantly rural community will provide high calibre employment opportunities, particularly in management, design and prototyping services.
"We are working with management to develop the company’s capability and competencies in key areas such as export marketing and technology. The experience that SJC Hutchinson has gained in working with major clients in sectors such as bus manufacture brings significant benefits to the new enterprise," he added.
Mark Hutchinson, H360 Managing Director, outlining the business strategy, said: "We decided to spin-out the new company following extensive market research into opportunities for our existing engineering operation.
"We found a market demand from other engineering businesses for an experienced and expert design and product development service, across a range of engineering sectors including the manufacture of agricultural machinery and commercial vehicles, as well as architectural metalwork."
(NS/BMcC)
