Unions have been notified of plans to put all staff at the Drogheda Premier Periclase plant on notice that they are at risk of redundancy.
The news comes just a matter of weeks after the company exited the examinership process.
Louth & East Meath Labour TD, Ged Nash has said he is extremely concerned over the future of the plant in Drogheda.
“I understand from trade union contacts that the owners of the firm state that they are concerned at the viability of the plant as a consequence of escalating gas prices,” said Deputy Nash.
“It is concerning that this development has occurred only a matter of weeks after the company came through an examinership process that resulted in a series of redundancies.
“Workers at Premier Periclase are right to be sceptical about the commitment of the owners to maintaining the operation given that rising gas prices were going to be a reality of life for businesses and households well after the company was permitted to restructure and reorganise its affairs under the court examinership process.
“For them to appear not to have fully factored this into their considerations invites obvious questions of the company and their commitment to their workers.
“This is a real slap in the face for workers who are experiencing restructuring fatigue and real question marks now hang over the survival of what has been an important employer in the Drogheda area for many years.”