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22/07/2009
Diamond Jobs Go In Shannon
It emerged this afternoon that workers fears at the Element Six industrial diamond plant in Shannon Co Clare were founded, with over 370 jobs set to be axed.
All manufacturing and distribution is to be discontinued with only 80 workers being retained in the research and development area.
The company has blamed the high-cost environment in Ireland, which it said could no longer be sustained.
Element Six said the Shannon operation, which operated a central marketing and technical support unit, was the most expensive manufacturing unit in the entire global operation.
A statement from the company read: "Despite a series of cost reduction programmes in the past few years, continued production at the Shannon site is no longer sustainable or viable, and the primary business it serves is loss-making.
"The current economic downturn has simply served to exacerbate these challenges.
"This is a highly regrettable decision for Element Six and a number of alternatives were considered at length," it said, noting that management will commence the process of winding down the manufacturing and distribution operations to effect closure by around year end.
The company, which once employed over 600 people, announced 150 voluntary redundancies last December; a scheme that is believed may have been oversubscribed.
The company now employs 400 people in Shannon and is one of the world's biggest manufacturers of supermaterials and industrial diamonds.
It is one of the biggest and longest-established companies in Shannon and was formerly known as DeBeers and also has plants in South Africa, Sweden, Germany and Israel.
The plant at Shannon provides a central marketing and technical support centre for the group's worldwide customers.
(BMcC/JM)
All manufacturing and distribution is to be discontinued with only 80 workers being retained in the research and development area.
The company has blamed the high-cost environment in Ireland, which it said could no longer be sustained.
Element Six said the Shannon operation, which operated a central marketing and technical support unit, was the most expensive manufacturing unit in the entire global operation.
A statement from the company read: "Despite a series of cost reduction programmes in the past few years, continued production at the Shannon site is no longer sustainable or viable, and the primary business it serves is loss-making.
"The current economic downturn has simply served to exacerbate these challenges.
"This is a highly regrettable decision for Element Six and a number of alternatives were considered at length," it said, noting that management will commence the process of winding down the manufacturing and distribution operations to effect closure by around year end.
The company, which once employed over 600 people, announced 150 voluntary redundancies last December; a scheme that is believed may have been oversubscribed.
The company now employs 400 people in Shannon and is one of the world's biggest manufacturers of supermaterials and industrial diamonds.
It is one of the biggest and longest-established companies in Shannon and was formerly known as DeBeers and also has plants in South Africa, Sweden, Germany and Israel.
The plant at Shannon provides a central marketing and technical support centre for the group's worldwide customers.
(BMcC/JM)
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'Don't Steal Our Shannon Water' Says Limerick
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Two Northern firms have excelled in what is the largest business competition on the island of Ireland - Seedcorn 2010. Run by InterTradeIreland, the organisation that supports small and medium-sized businesses across Ireland for better North/South trade and business development, it offers a total prize fund of €280,000.
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Ireland WeatherToday:Mainly dry with sunny spells on Friday, cloudier at times in the south. The chance of the odd afternoon shower developing in the south and east. Maximum temperature 20 °C.Tonight:Any afternoon showers soon dying out to leave a dry evening with clear spells at first, but coastal low cloud, mist or fog then spreads in from the northwest. Minimum temperature 8 °C.
