Kildare semiconductor company to accelerate growth plans

A London private equity investment group Perwyn has bought part of Westerwood Global, a Kildare based company that provides services to the semiconductor and microchip companies around the world.

 A spokesperson for Westerwood said: “Westerwood Global are delighted to welcome Perwyn, a family funded investor as our new strategic partner. This partnership will allow Westerwood Global to accelerate our international growth plans.”

Accounts for the year ending June 30, 2018, said that the Westerwood employed  237 people (over 90% of them engineering staff ) and made an after tax profit of €3.09 million  on turnover of €16.99m for the year ending June 30, 2018. 

Westerwood said it now employed 600 worldwide but did not give a breakdown of the Kildare proportion of its workforce.

Staff costs amounted to €9.8m. 

SEE ALSO: Naas firemen to raise money for cancer charity

 The company paid tax on profit of €679,202. Shareholder funds were €19.7m in June of last year, up from €16.6m the previous year.

Westerwood has its registered office at the Maynooth Business Campus.

Its main activity, since 2003, is providing labour solutions, decommissioning and maintenance services to the global semiconductor and electronics industry.

It says it has been successfully providing “low cost high value added” to blue chip semiconductor companies worldwide.

The directors say that the principal risk and uncertainty facing the company is the possibility of the increase of corporation tax rates in Ireland. “This would greatly influence the decision to remain in operation in Ireland for some of their client base.”

They also said they have an “excellent reputation” with their clients and “would have sufficient resources available to them to reallocate staff overseas should this risk materialise.”