3Com, a US-based technology company which employs 850 staff in Dublin, has put a 120,000 sq ft facility on the market and plans to sell up to 30 acres of land to raise cash for its parent.
The firm's decision to try to raise cash through a property sale follows a major global restructuring at 3Com, which has already cost almost 200 jobs at the company's facilities in Blanchardstown.
It is understood the Lisney estate agency has been retained to sell the land and facility for 3Com in what would be a multi-million euro deal.
3Com, which manufactures computer networking equipment at its Dublin operation for the European market, said last night it had no plans to reduce its workforce as a result of the assets sale.
A spokesman said the company was reducing capacity and the firm was not selling up in the Republic. He said the processes 3Com was using did not need the space that it had available in Blanchardstown.
Up to 30 acres was being put on the market but 3Com may not sell all of this, he added.
3Com owns three buildings at its Blanchardstown site and has invested more than €127 million since establishing its Irish operations in 1991.
However, the sustained downturn in the telecoms and computer equipment industry has seen 3Com report massive losses in successive quarters in recent years.
The company's Irish operations have proved reasonably resilient during 3Com's restructuring plan under which it has shed more than 6,000 jobs in just two years, halving the company's size.
Last month 3Com reported a net loss of $32 million (€32.5 million), or nine cents a share, for the quarter ended 30th August , compared with a loss of $232.4 million, or 67 cents a share a year earlier.
