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Dynamic controls to spend $30 million

2 April 2008

Media release For immediate release

Dynamic controls to spend $30 million on R&D in NZ in next five years

Dynamic is to invest $NZ30 million in research and development in Christchurch over the next five years. They have also set ambitious but achievable goals on a path to become a recognised leader in the field of biomedical engineering. Biomedical engineering is concerned with technology which aids human performance.

The announcements also included a commitment to targets to using Dynamic’s international connections to attract R&D work from around the world and commercialise the ideas here.

Charlotte Walshe, Chief Executive of Dynamic, made the announcements today in Christchurch to business and community representatives at a business breakfast.

"I am very pleased to announce this substantial investment of $30 million over five years in Research and Development here in New Zealand. Dynamic Controls is committed to Canterbury and New Zealand as this is an excellent location to find the talented innovative people we need to move forward. It really helps being close to other technology-based businesses who can be partners and suppliers as this suits our new business model very well,” said Charlotte Walshe.

Biomedical engineering is a growth area and Dynamic is focussing on enhancing people's quality of life by applying our engineering skills to people’s medical / physical problems.

Dynamic Controls announced on 20 March 2008 that they had tendered successfully to take over production of HumanWare high technology products for blind and low vision people following HumanWare’s decision in January to consolidate their design and manufacturing centres in Canada.

Ranked sixth in the 2006 Technology Investment Network’s top 100 technology companies, Dynamic Controls is a leading global supplier of powered wheelchair and mobility scooter controls.

Dynamic's contract manufacturing business is in Christchurch, and is worth $28 million. Dynamic now employs 250 staff in Christchurch (416 worldwide) and had revenues of $95 million in 2007 (NZD).

ends

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