Malta ‘centre of excellence’ for Magnetoelastic Sensing Technology - Methode

Methode Electronics announced on Tuesday that Methode Malta, the company's local business unit, has been chosen "as the centre of expertise for the company's Magnetoelastic Sensing Technology."

Methode President and CEO Donald Duda said that "Method's business unit in Malta is well-positioned to recieve this technology, as a result of their excellent design and engineering capabilities, as well as their unrivalled manufacturing systems."

He added that over the years, Methode has saw its local operation "grow into a skilled and innovative team of people".

He added that the decision to bring this new business to Malta "is a result of the synergy between Methode Malta's workforce, its management team, its customers, and the Maltese Government, which understands the importance of industry to the Maltese Economy."

Dondald Duda was speaking immediately after a tour of Methode's production line, storage facility, and research and development facilities with Prime Minister Lawrence Gonzi and Finance Minister Tonio Fenech.

In his own address, Gonzi said that Methode's decision is "evidence of the Government's successful economic strategy".

He pointed out that Government had singled out the high-technology manufacturing sector was an important one for Malta in its 2015 vision policy document.

Gonzi also highlighted how Methode's operation are also a testament to the Maltese workers' flexibility, adaptability, and ability to receive education and training to be able to attract high-technology manufacturers to local shores.

He also said that "few are those countries where companies and operators can sit down with Ministers to find a way forward in difficult times," insisting that Government's commitment to sustaining industry are yielding results today.

Finance Minister Tonio Fenech, on the other hand, similarly welcomed Methode's announcement, pointing out that the company has chosen to invest a total of approximately $50 million in research and development, along with the necessary facilities, to Malta.

He pointed out that Methode was one of those local operators who were facing dire problems in 2009, but, thanks to Government assistance, was able to recover and went on to increase its staff from 700 to 1,100.

Gonzi and Fenech declined to answer questions from the media.

Asked when he planned to confront wayward Nationalist MP Franco Debono regarding the accusations he has been levelling at his administration, Gonzi would only reply "I have no further comment to make."

Fenech was similarly tight-lipped, only insisting that "We have already made our position clear."