A giant American corporation specialising in the purchase and sale of used process plants and equipment has bought out the Asahi synthetic fibre plant situated on a 400-acre site in Killala, north Mayo, just two months after the factory closed its doors, making 315 staff redundant.

Universal Process Equipment (UPE), a New Jersey-based company and the largest of its kind in the world, has also announced the purchase of the Asahi company's chemical terminal at Dublin Port, and plans to work closely with IDA Ireland to sell on the properties to a suitable company.

UPE has extensive marketing expertise and a proven track record for selling on used process plants and equipment as assets to new owners. The company plans to find a company for the Killala site which will have potential to provide employment to the local workforce, which is trained in synthetic fibre processing. In situ equipment will be marketed as one of the major assets of the plant.

Over the past number of months, several companies are believed to have visited the site and UPE is actively promoting the facility world-wide. Since its departure, former Asahi management at the plant are also believed to have contributed £200,000 towards job creation projects in the North Mayo area.

Manager of Mayo County Council and chairman of the North Mayo Enterprise Board, Mr Des Mahon stated that he had every confidence that a new manufacturing plant could be put in place at the Asahi plant by UPE in the near future.

'It is the goal, purpose and mission of UPE Inc to find a suitable company that will have the capability of establishing a new manufacturing facility that can utilise all or most of the existing assets', he said.