Union leaders have raised fears of potential job losses at Derry based Maydown Precision Engineering less than a month after it was acquired by Schivo, the Waterford-headquartered group.

Unite said it is concerned for the future of 140 jobs at the Derry plant.

The union said it has been told by members who work for Maydown Precision Engineering that they had received letters warning of potential redundancies.

A spokesman for Schivo NI said this evening however that Unite had been "inaccurate and irresponsible" in relation to the job-loss rumours, although it acknowledged that up to 15 positions could be terminated.

“Schivo NI recently acquired the business and assets of Maydown Precision Engineering and in line with restructuring the business, a small number of staff in roles that are not key to the growth and development of the business have been informed that the company is considering making their positions redundant. Between 10 and 15 positions are under consideration, although at this stage nothing has been decided," the spokesman said.

The Derry company, which was established in 1985, manufacturers components for the aerospace industry and supplies to industry leaders like Bombardier, Airbus and Boeing.

It was acquired by Schivo last month for an undisclosed price.