Competition from the Far East is putting 140 manufacturing jobs at risk in Roscrea, Co Tipperary, IDA Ireland has confirmed. The IDA said yesterday that it was working closely with CM Offray, which manufactures high-quality ribbons, in its efforts to find a strategic partner.
The company has been operating in the north Tipperary town since 1979, but has suffered severe losses in recent years due to strong competition and over-capacity in European markets.
Extensive investment in market development failed to stem its losses and the situation in 1999 shows no sign of improving, according to Mr Kevin Graham, the plant manager.
He added that the company had a "number of options" currently under consideration. "We need to be able to secure a positive outcome within the next three months," he said.
IDA Ireland's regional manager, Mr Brendan O'Sullivan, said a partner for the Roscrea firm was being sought in Europe.
:quality(70)/cloudfront-eu-central-1.images.arcpublishing.com/irishtimes/VR3765MFOBH2NMV2QNICYDF67M.png)