Type
Closure
Country
Ireland
Region
Border, Midland and Western; Midland; Midland
Location of affected unit(s)
Athlone
Sector
Manufacturing
Manufacture Of Computer, Electrical Electronic And Optical Products
Manufacture Of Electrical Equipment
27 - Manufacture of electrical equipment

100 jobs
Number of planned job losses
Job loss
Announcement Date
27 March 2008
Employment effect (start)
Foreseen end date

Description

Athlone based electrical cable manufacturer Nexans Ireland described the weakening of the dollar and, more importantly, sterling against the euro, as the reason behind its decision to announcement the closure of its Athlone plant with the loss of 100 jobs. As of March 2008, there is no information on when the job losses will be implemented by.

Nexans said the factory had been loss-making for 10 years. Successive redundancy programmes and restructuring plans had failed to improve its competitiveness.

Its main customers were electrical distributors in the UK and Hong Kong.


Sources

  • 28 March 2008: The Irish Times

Citation

Eurofound (2008), Nexans Ireland, Closure in Ireland, factsheet number 66466, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/66466.