£120m investment for city plant

The company is the world's largest manufacturer of hard disc drives

Seagate Technology has announced a £120m investment in its Springtown plant in Londonderry.

The investment will go into new equipment, IT, research and development and infrastructure and is expected to be completed by 2010.

Seagate is the world's largest manufacturer of hard disc drives.

"This investment will allow our Springtown factory to remain at the forefront of technology," said the company's John Spangler.

"It is already one of the leading producers of read-write heads in the world and is the primary supplier of heads for Seagate. This is a position that will be enhanced by this new investment.

"The success of this factory since it started production in 1994 and the continued success we see for it into the future are evidence of Northern Ireland's capacity to compete in the global marketplace."