The midlands suffered a significant blow on Wednesday with news that a Co Longford factory is closing with the loss of at least 170 jobs.
The Cameron plant in Longford town, which manufactures flow equipment for the oil and gas industry, is expected to cease various operations early next year after a period of consultation.
“Should the decision to cease manufacturing, assembly and testing activities be confirmed, we estimate that approximately 170 employees will be impacted and we expect a phased approach with operational activities in Longford to cease in the second quarter of 2017,” said the company.
At present 220 people are employed by Cameron in the town but only 50 of those posts are expected to be retained, in the research and development area.
Staff were called to a meeting with executives in the afternoon where they were informed about developments.
‘Underutilised’
The company said a severe downturn in the oil and gas industry had "dramatically impacted Cameron Surface equipment and Subsea order intake, leaving many of our plants underutilised".
Cameron, which arrived in Longford in 1978, said it would maintain a presence in the town where it would continue to operate an R&D and engineering hub.
Local politicians expressed dismay at the news.
Fine Gael TD for Longford-Westmeath Peter Burke described the news as disappointing. "My first thoughts are with the employees and their families at this very difficult time."
Cllr Mick Cahill, cathaoirleach of Longford County Council, also said that it was a "terrible blow" to the area.
“As chairman of Longford County Council, my thoughts are with the employees and their families at this very devastating news,” he said.
It was also revealed that 600 staff at Onesubsea in Leeds, which is owned by the same company as Cameron, were at risk, also because of the downturn in the oil and gas industry.