"Element Six has decided to close its manufacturing and distribution activities on its site in Shannon, Ireland.
The company will maintain the Shannon site, retaining positions in high skill areas such as R&D, Global Customer Services and Group support.
This decision is the result of a comprehensive strategic review of Element Six’ global manufacturing operations to improve cost competitiveness and secure the Group’s long–term future.
The Shannon operation is the highest cost manufacturing site in the Element Six Group. Despite a series of cost reduction programmes in the past few years, continued production at the Shannon site is no longer sustainable or viable, and the primary business it serves is loss-making.
The current economic downturn has simply served to exacerbate these challenges. This is a highly regrettable decision for Element Six and a number of alternatives were considered at length.
The decision will result in the loss of around 370 jobs in Shannon, while 80 positions will be retained on the site. The production and distribution activities will largely be relocated to other Element Six sites. Management will commence the process of winding down the manufacturing and distribution operations to effect closure by around year end."
