ENGINEERING FIRM Powerscreen will implement an extended winter shutdown from December 12th to January 5th because of a significant fall in orders.
The US-owned firm, which is currently in consultation with its staff about potential job losses, has warned that some of its subcontractors may also be forced to reduce their workforce. The Dungannon, Co Tyrone, plant directly employs more than 550 staff.
Connecticut-based Terex Corporation, which owns Powerscreen, said "every attempt is being made to minimise job losses in these uncertain global conditions", but also warned that it "was obliged to adjust to the market weakness".
Terex this week posted third-quarter results which showed net income of $93.8 million (€74.26 million), or $0.96 per share, compared to net income of $151.5 million, or $1.45 per share, for the third quarter of 2007.
Tom Riordan, Terex president and chief operating officer, said the organisation was taking a series of actions to "aggressively reduce costs and inventories".
Mr Riordan said Terex reduced its global workforce by 6 per cent in the third quarter and would achieve a further 18 per cent reduction in the fourth quarter.
Despite the current uncertainty at the Powerscreen operation in the North, Terex said the Co Tyrone plant had historically been an exceptionally strong performer in the materials processing sector of its business. "We have confidence that the company will see a turnaround when market conditions improve," a Terex spokesman added.
Meanwhile, another significant Northern Ireland employer, Bombardier Aerospace, has launched a recruitment drive to fill 200 new posts and is developing an additional 500,000sq ft facility at its Belfast plant in the first phase of a multimillion pound investment.
The Canadian group announced a £500 million (€630 million) investment for its Belfast factory in July.
Bombardier said the investment boost would eventually create 800 additional jobs in the North but 200 would come on stream immediately in preparation for the development of the CSeries 100-seat regional jet.
