US medical diagnostics company Beckman Coulter is to close its Galway plant with the loss of 140 jobs in the city.

The multinational, which has been based in Galway’s Mervue Business Park for over 40 years, informed staff on Thursday morning that the plant will be closed on a phased basis by the end of next year.

About 80 jobs will be relocated to its plant in Tulla, Co Clare, which is otherwise not affected by today’s announcement.

The California-based company manufactures biomedical testing instrument systems, tests and supplies which simplify and automate laboratory processes.

The company’s Mervue Business Park unit is its largest European manufacturer of diagnostic re-agents and rotor products.

Trade union Siptu is to meet staff on Monday, and management next Wednesday. Galway chamber of commerce president Frank Greene said it was a "very sad day for Galway, but more particularly for the 140 workers".

The closure was "very unfortunate", given that Galway was seen as a "key medtech centre" and had been described by the Financial Times as a "European microcity of the future", he said.

Beckman Coulter said in a statement that a “review of operations” had been undertaken by the US-based parent company in recent months, and the largest component in the Galway unit would move to Co. Clare.

“Production of immunoassay reagents, haematology reagents and some chemistry reagents will be transferred to the Clare facility,” it said.

“Rotors and a portion of the chemistry reagent production will be transferred to sites in the US,” it said.

“As a consequence of the transfers there will be 70 - 80 job positions available for Galway employees at the Clare plant. We expect to offer incentives to encourage our existing associates to accept positions in Clare,” it said.

The Galway production will be phased out over the next 12 -15 months and the facility is expected to close by the end of 2015.