Technology firm Compound Photonics has acquired the former RFMD facility at Newton Aycliffe, saving the factory and some 200 jobs.
Durham County Council’s business gateway, Business Durham, predicts the firm’s investment could see the workforce double at the site, as the company expands its operations in London and the US.
Compound Photonics is building the world’s smallest high definition 1080pixel and ultra high definition 4K projection light engines for mobile devices, projectors and automotive heads-up displays.
Dr Jonathan A Sachs, the firm’s president and chief executive, said: “The availability of the facility at Newton Aycliffe is a fantastic opportunity for Compound Photonics.
“The facility, the equipment and the highly skilled workforce will enable us to significantly expand our manufacturing capacity to meet the demand of global markets for a new generation of projection products.” Last March, RFMD announced its intention to consolidate manufacture in its US headquarters, leading to the closure of the Newton Aycliffe factory with the loss of all jobs. Since then, Business Durham has been working hard with interested parties to save the factory and safeguard jobs in County Durham.
The acquisition of the facility by Compound Photonics opens up a new future for the plant and the people.
Dr Simon Goon, managing director of Business Durham, said: “We’re absolutely delighted that Compound Photonics has chosen to locate here.
“The factory has a long history of technology-led manufacturing and we are thrilled about the news that it is now likely to become the largest manufacturer of laser diodes in the world, employing a team of specialist scientists, engineers and technicians.
“It is a glowing testimonial that County Durham is a great place for technology companies.”