Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Hyster, a firm that manufactures forklift lifting machinery, is to close its plant in Irvine and relocate production to Craigavon in Northern Ireland with the loss of 220 jobs. The firm, which has had a plant in Irving since 1957, will close the site in a series of phases that will end in January 2009.
Parent company Nacco blamed European financial conditions. A statement from the firm said that over capacity in Europe and the currency imbalance between the dollar, Euro and Sterling triggered the move. Irvine plant manager, Hugh McGhee, said: 'It is extremely regrettable that manufacturing will scale down and cease by the end of January 2009...We will complete the final production orders for our current product range at Irvine in January 2009 after which these models will then be replaced by a new product range which will be built at our Craigavon plant in Northern Ireland.'
Mr McGhee said that the firm was conducting a detailed communication process with all employees in the manufacturing and divisional arms of the business and will consult with them and their representatives over the coming months.
He added: 'We will also be liaising with Scottish Enterprise Ayrshire and other support bodies over the course of the next 15 months to explore a number of options in regards to the retraining and upskilling of staff.'
South of Scotland MSP Michael Russell said: 'The loss of any job is disturbing, but to lose 220 in an area already striving to survive the loss of many of its indigenous industries is cruel.'
Eurofound (2007), Hyster, Relocation in United Kingdom, factsheet number 65684, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/65684.