Pay-offs at glass firm mar a good news day
There was a mixed picture on the economic front yesterday with investments and employment announcements for the north-west of the Province, but job losses in south Down.
Thirty new jobs are being created in Co Londonderry through investments totalling 6.5 million by two local firms. However, 60 jobs are to be lost at a glass company in Kilkeel due to the downturn in the construction industry.
Castledawson-based Moyola Precision Engineering is investing 4.5 million in hi-tech machinery and equipment and creating 22 highly skilled jobs.
The company, which was established 30 years ago and currently employs 80 people, manufactures high-spec machined components for a range of industries including aerospace, power generation and automotive.
Its customer base includes Airbus, Boeing, Bombardier, Howden, Michelin, NACCO, Thales and Ryobi.
The investment, backed by Invest Northern Ireland to the tune of 1m, will support the installation of the latest high-speed precision machining centres and develop the company’s computer-aided design and manufacture capability (CAD/CAM).
Announcing the investment during a visit to the company, Economy Minister Arlene Foster said: “This indigenous company constantly seeks to be innovative in both product and process development. This has helped Moyola in recent years to achieve significant growth in the high-value-added aerospace supply sector.’’
Managing director Raymond Semple said: “Since increasing our focus on aerospace in the last few years we now generate around 50 per cent of our turnover from the sector.
“With the global aviation industry currently experiencing steady growth, we see this area as key to our future business plans.’’
In a separate investment, Fleming-Agri Products – based at New Buildings – announced a 2m expansion which will see its workforce grow from 66 to 75.
The family-owned and managed company manufactures agricultural machinery including muck spreaders, land-rollers, bale-handling equipment and a small trailer range. Invest NI has offered 90,000 in support of the investment.
On a visit to the firm, Mrs Foster praised Fleming’s initiative. She said: “This is an ambitious and progressive home-grown company which has developed a significant programme for faster growth, primarily in European markets.”
Meanwhile, Kilkeel suffered a major jobs blow yesterday with the announcement that 60 workers at Toughglass – more than half the workforce – are to be made redundant.
The company, which makes toughened glass for the construction and transport industries, blamed a downturn in demand for the job losses.
South Down Assembly member Jim Wells said: “There is a question mark about the full-time employment of the other staff as well. Some of them may be put on part-time work, so it’s a very worrying time for the town.”
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Weather for Belfast
Thursday 24 May 2012
Today
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Temperature: 12 C to 23 C
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Temperature: 12 C to 22 C
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