More than 200 workers will lose their jobs at Richardson's Fertilizers in Belfast following the decision to liquidate IFI.
Union leaders in Belfast have described the job losses as "very disappointing".
Richardson's was a key employer in Belfast's north inner city and docklands. It has been manufacturing fertilizer in Belfast since 1860.
The company became part of IFI in 1987.
The Belfast factory manufactured complex compound (NPK) fertilizer product.
Its demise, alongside the loss of Gallaher nearby, spells the end of traditional employment in the area which has been heavily redeveloped.
The closure comes at a bad time for Belfast. Last week, Harland & Wolff announced it would lay off two thirds of its staff by the end of the year.
The president of the Ulster Farmers' Union said the news had come as a shock. Mr John Gilliland added that the Richardson's brand had been synonymous with Northern Ireland agriculture and would be a great loss.