100 posts gained but cable firm jobs at risk
Published 02/07/2010 | 05:00
MIXED fortunes continued on the employment front yesterday with over 100 jobs hanging in the balance at one firm and the same number being created at another.
A receiver is trying to draw up a rescue plan for a cable manufacturing company that has gone into receivership.
The 106 employees of B3 Solutions in Farneyhoogan, outside Longford town, which makes fibre-optic cables for the telecoms industry, are facing redundancy unless a buyer can be sourced in the coming week.
B3, which has operated in Longford for three decades, is now a division of the international group B3 Cable Solutions. The company underwent major restructuring less than two years ago and so news of the firm going into receivership came as a shock.
"This news has hit workers like a bombshell," said SIPTU organiser Sean Nolan.
"It is our hope that the company can be sold as a going concern. Anything otherwise would be a disaster," he said.
Meanwhile about 100 jobs are to be created at a US medical devices firm in Galway.
Merit Medical announced yesterday that it is to invest €6.7m at its Galway plant and turn it into its main European manufacturing centre.
Enterprise Minister Batt O'Keeffe has welcomed the news, saying that it will "add to our reputation as a global leader for life science firms".
"The firm's decision to expand and target research and development adds momentum to the Government's strategy to capture a greater share of the innovation market," he said.
Operating in Galway for 16 years, Merit Medical manufactures inflation devices used in hospitals worldwide. The firm already employs 250 people in Parkmore, Galway.