More than 100 workers at a Dublin firm which manufactures industrial diamonds have gone on strike following a dispute over the sale of the company.
GE Superabrasives, based in the Clonshaugh Industrial Estate, Dublin, is due to be sold to another US-based firm next year.
However, workers are seeking long-term guarantees regarding existing severance payments and other work conditions in advance of the sale.
SIPTU, which represents the majority of the 160 workers at the firm, says it will continue on a series of rolling strikes until agreement is reached on the severance payment issue.
Mr Gerry Lynch, secretary of the electronics and engineering branch of SIPTU, said staff were facing into an uncertain future.
"A number of restructuring plans over the last ten years has meant a reduction in the workforce of over two-thirds. The remaining staff now believe that their commitment to the company has been ignored and their long service devalued," he said.
In a statement, GE Superabrasives said the union had embarked on a series of work stoppages despite assurances that workers' terms and conditions of employment will continue under the proposed new ownership.
It said the company has been engaged in discussions with the union since the announcement of the sale in late September. The company also said it was fully committed to ensuring there was a smooth transfer to the new ownership, which will include the existing management under its chief executive, Mr John Higgins.
Talks between the union and management on Wednesday, which lasted around five hours, were unsuccessful in resolving the outstanding issues.
SIPTU began its series of work stoppages on Thursday evening. The current strike will last until this evening and further industrial action is due to take place between November 5th and November 10th. Other stoppages are also planned.
GE Superabrasives Ireland is a subsidiary of GE (USA) and has been operating in Ireland since 1981. It produces industrial diamonds and diamond-drilling products. The bulk of the company's production is exported to customers in Europe, the US and the Far East.
GE announced in September that it was selling the business to Littlejohn & Co, a private equity firm based in Greenwich, Connecticut. The sale is expected to be completed by January next year.
