Shannon Data Capture and Test Company Awarded US Navy Contract with Lockheed Martin
Lockheed Martin has awarded the Shannon Free Zone based technology firm Bustec, a $21million (€15 million) contract to supply data capture and testing equipment which will be used by the US Navy.
Established in Shannon since 1997, Bustec is a leader in the supply of data acquisition and control products within the global Test and Measurement market. Its products are all based on computer independent and open platform standards.
Its products are used by many of the world's leading companies in the power, aerospace, defence, and automotive sectors for applications such as pacemaker testing, wind tunnel simulations, life support systems and nuclear monitoring equipment,
Commenting on today's announcement, Bustec CEO and Founder, Fred Blönnigen (pictured), said: "Data capture and testing is a critical function in practically all industrial applications. From design verification tests to production supervision, accurate measurements are directly reflected in the quality of the end product. Bustec is delivering innovative products which are at the heart of this essential function and which provide the technology platform for capturing, testing and controlling key data which are critical to the safe and effective operation of many of these processes.
"The contract we have agreed with Lockheed Martin will ultimately see Bustec products in use in data testing and quality systems across the US Navy fleet, and the contract is not only significant for Bustec in meeting our financial and business goals, it is also a strong endorsement of the quality and effectiveness of our test and control products and helps us to fulfil our mission to supply the benchmark products of choice Where Accuracy Matters."
Minister for Jobs, Enterprise and Innovation, Mr. Richard Bruton TD, who was also in Shannon to announce the 170 new jobs to be created by Zagg, the US company that manufacture protective coverings (skins) for devices like the iPhone, iPad and HTC, and their logistics partner Cregg, said: "I am delighted to help mark Bustec's achievement in securing this major international contract with Lockheed Martin, which will bring significant benefits to the region in coming years.
"Bustec is a sophisticated technology company operating at the cutting edge of its sector, and its decision to retain its headquarters and manufacturing base in Shannon since the mid 1990s is a major vote of confidence for Ireland and the region. I know Shannon Development, with the help of my Department, has supported the company in the past and I commend them for their work.
"I am developing plans to ensure that we can build on the success of companies like Bustec and ensure that high-end technology companies continue to thrive and expand in Ireland, retaining and protecting the jobs of the future. Companies like this are a great unsung success story of the real enterprise economy, and we need to promote them and learn from their success to ensure that the economy itself can become a real success story again. I, together with my Department, am putting in place policies to ensure that innovation and technology becomes the basis of future economic growth."
Shannon Development CEO, Dr. Vincent Cunnane, added: "Shannon Development had a good feeling about Bustec and its founder, Fred Blönnigen, since we first met him and his team 15 years ago. Bustec is a forward looking and innovative technology company supplying leading global brands in the technology driven sectors. We have continued to work closely with Bustec and its unique product offerings to the global test and measurement market, and we are delighted to congratulate them on this latest important contract win with a leading global technology group."
Bustec is currently engaged in a €3m funding round advised by Who42, who provide Human & Equity Capital services to the Ireland's Knowledge Economy.
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