Ladies and Gentlemen, it is with great pleasure that I am here today to formally open this facility as Transaero Engineering Ireland.
This facility has had its roots here in Shannon, under various different owners, for over 50 years and I congratulate Transaero Airlines on their acquisition of the company.
This acquisition has secured the 241 jobs here and there is substantial opportunity for Transaero Airlines to grow its aircraft maintenance base here.
The acquisition of this facility by one of the largest airlines in Russia is a testament to the skills of the workforce here, and I am delighted to see the economic links between Russia and Ireland developing in this way.
Co-operation on the aviation and aerospace sectors formed part of the agenda at the last meeting of the Ireland-Russia Joint Economic Commission in Moscow which was co-chaired by the Tánaiste. I hope that Transaero’s experience in Ireland will encourage further investment from Russia.
Of course Shannon Airport itself is a major draw
- The longest runway in Ireland 3200m is here;
- It is in 24 hour operation with no curfews or no noise restrictions;
- It is capable of handling all aircraft types; and
- Shannon Airport has the largest airport fuel storage facility in the country.
This investment is also evidence of our success in restoring Ireland’s reputation around the world as being a great place to do business.
I am aware of the work of local and national enterprise support agencies and their ongoing collaboration with the Shannon and Dublin Airport Authorities and the Irish Aviation Authority.
Their hard work is furthering Shannon’s reputation as a centre of excellence for aviation development and I have no doubts that their endeavours will lead to additional jobs in this sector in the near future.
Jobs
And the creation of jobs remains the top priority of the Government.
Last Friday I was happy to announce the latest progress report on our Action Plan for Jobs. Our plan involves the transformation of Ireland’s business environment to encourage an extra 100,000 jobs. The ultimate goal is for Ireland to be the Best Small Country in which to do Business in by 2016.
A key part of this is developing and deepening Foreign Direct Investment. The Government is committed to delivering 50% of FDI outside of Dublin and Cork - Transaero is an excellent example of a company operating in this space.
Be assured that you have the support of my Government, in particular my colleagues the Minister for Jobs, Enterprise and Innovation and the Minister for Transport, Tourism and Sport, who will be delighted to work closely with you on any expansion plans – our doors are open!
European Stability Treaty
The best thing that Ireland can do to further improve our international reputation and ensure that we continue to win secure investment and jobs, such as today’s announcement, is to vote YES for the Stability Treaty next month.
All businesses, especially mobile international companies, value stability when deciding where next to invest.
Passing the Stability Treaty will send out a message to the whole world that Ireland is open for business and that we have put the worst of our economic difficulties behind us.
The Government with the cooperation of the Irish people have made serious strides in sorting out our public finances and our banks.
However, while we need to bring stability to our own national finances, we also need to bring stability to the wider Eurozone.
As a small, open, exporting economy we need a stable Eurozone that can deliver greater investment, jobs and growth in the Irish economy.
Speaking to business leaders who are creating jobs for our people, they recognise the benefits of a strong YES vote and are voicing the importance of passing this referendum.
The Treaty offers everyone in Ireland the opportunity to play their part in securing Ireland’s future by voting yes.
As reaffirmed yesterday Ireland is on target with our Programme and sentiment is good, but we cannot control world events or the world economy.
Markets need to know that there is a backup there in the form of the European Stability Mechanism and we can only access that if we ratify this Treaty on 31st May.
Conclusion
I hope that in the years to come that there will be many more good news stories such as this.
I wish Transaero every success in developing their company. It is a globally recognised, progressive airline and it represents a very welcome addition to the aviation base here at Shannon.
I wish all the management and staff here at Transaero Engineering Ireland, and their parent company Transaero Airlines every future success.
Slán.