A Galway specialist engineering firm is likely to close with the loss of 138 jobs.
APW Galway Limited, which makes bespoke parts for ATMs and other devices, has operated in Oranmore for 30 years and was taken over by APW seven years ago.
Liam Dowdall of BDO Simpson Xavier has been appointed as receiver of the firm. He said “challenging market conditions” had forced it into receivership. “We will continue to trade the business while we review all our options for its future,” he said.
It is understood that up to 30 jobs may be retained in the short-term but that finding a buyer for the firm is unlikely in current market conditions and that the company will be wound up in the near future.
The plant ceased operations this morning and workers have been asked to return on Monday for an update on their positions, a company source said. On Monday, detail of the individual positions to be lost will be unveiled and there will be further clarification on the extent of job losses.
The company met with Siptu’s Brendan Cunningham this morning. Mr Cunningham said only statutory redundancy would be paid to workers. He said there was no prospect for additional payments and workers may have to wait up to three months for payment as the money will have to come from the Department of Enterprise, Trade and Employment fund.
“The company has agreed to expedite P45s and we will be in touch with the Department of Social and Family Affairs to see how they can assist members during the interim,” he said.
Statutory redundancy payments afford two weeks’ pay per year of service to affected workers.
