US electronics company Contex has acquired an Antrim-based firm, HTA Industries, in a £5 million sterling (€7.9 million) investment set to create 84 jobs.

The deal will also safeguard 103 existing jobs at HTA Industries - formerly Lucas Stability - in Antrim town.

Contex is a wholly-owned subsidiary of Transpo Electronics based in Orlando, Florida, which specialises in the manufacture of automotive components.

Announcing the investment, which will be backed by the North's Industrial Development Board, the Minister of Enterprise, Trade and Investment, Sir Reg Empey, described the news as a boost for Northern Ireland's growing electronics sector.

"The decision by such a successful and ambitious US company to locate a manufacturing operation in Northern Ireland to supply high quality components to both its existing and projected US business is a substantial boost for Antrim and the wider economy.

"The investment will bring new technology to the plant and offer extensive opportunities to the local workforce to play a significant role in the growth of this innovative and dynamic company," Sir Reg added.

Contex's managing director, Mr Mark Macuska, said the acquisition of HTA Industries was part of the company's global expansion strategy.

"We decided to acquire HTA Industries as part of a global expansion plan to enable us to meet a rapidly increasing demand for our range of electrical regulators and rectifiers which require semiconductor diodes.

"Our intention is to develop Antrim into the group's centre of excellence in semiconductor die and diode production by investing in new technology and skills development here."

Contex's speciality area is the manufacture of quality silicon wafers which produce silicon die and diodes for electrical components used by the automotive industry.

The IDB plans to make available £948,435 sterling of selective financial assistance to Contex.