Cork engineering firm Terex Aerials is to close with the loss of 60 jobs, it was announced today.
The move comes as part of a wider restructuring programme by its US parent company, Terex Corporation.
Terex Corporation today announced a savings plan worth $40 million which included 1,225 job cuts worldwide, representing around 16 per cent of the workforce.
The Cork plant is scheduled to close by the end of January 2002.
The company said: "Over the preceding 12 months, the demand in the marketplace for the equipment produced in Terex Aerials, Cork has reduced by 80 per cent and the plant is no longer deemed viable."
Terex’s general manager, Mr Tim Lenihan, said: "'The valiant efforts of our Cork workforce to address this difficult market situation have been recognised throughout the Company, which is offering to assist employees to find alternative employment, both within and outside the Terex organisation."
He said it was a very sad day for him personally, for Terex and for all at the Little Island facility. He paid tribute to the commitment of the employees, a number of whom had been with the company since it was first established in 1977.
