The North's Enterprise Minister hopes up to 1,000 jobs may be created on the site of the former Mackie's factory in west Belfast.

After it was confirmed that the 20-acre complex had been bought by the Industrial Development Board (IDB) for £5.5 million sterling (€8.7 million), Sir Reg Empey said the site would become part of an integrated plan to reduce unemployment and poverty among both communities in the area. Around 600 people are employed at the nearby Springvale Business Park by firms committed to investing almost £60 million.

Sir Reg said this number of employees would rise to more than 1,200 as the projects mature.

The Minister said the Mackie's complex could mirror the success of Springvale and create the opportunity for at least a further 1,000 jobs.

Meanwhile, hosiery and lingerie manufacturer Adria announced the closure of its factory in Newry, Co Armagh, losing 165 jobs.

A spokeswoman for Adria said the firm's factory in Strabane, Co Tyrone, would not be affected and stressed employees would be encouraged to consider transferring there.

Sir Reg said he appreciated the closure had been forced upon the company by a fall in market demand. Nevertheless it was "a severe blow for the workforce in the town", he said.

Sir Reg said his Department would work closely with the local council and community representatives to find a replacement tenant for the factory site which he described as "an excellent facility and strategically positioned for companies wishing to service customers in Great Britain and the Republic of Ireland".

Adria's yarn processing division in Campsie, Co Derry, is also to cease production as a result of price pressures within the international yarn market.

Eight employees will be affected and the company said it hoped to provide transfers to other Adria sites.