25 June 2009

More Jobs to be lost in Waterford

More industrial jobs will soon be lost in Waterford City.

The workers at the well-known and long-established Waterford factory of the international electrical components company ABB learned this morning that the plant will be closed at the end of March 2010, with the loss of all 178 jobs.

The company, which manufactures distribution transformers for the construction and utility markets in Ireland and the UK, says that it is closing "because of significantly lower orders and lack of potential business".

ABB (Asia-Brown-Boveri) is a well-known and stable European firm, owned mainly by Swiss and Swedish investors.
At five different locations in Ireland the company employs currently more than 400 people.

The Waterford factory, which has been in operation since 1951, has always been seen as a key element to ABB's Irish business. With its closure next Spring, the long-term presence of the firm in Ireland looks doubtful.

It is quite likely that in the current world-wide recession the management will concentrate their efforts on their main countries of interest, which are Sweden, Switzerland and Germany.

The Emerald Islander

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