Workers at a manufacturing firm in Westmeath have voted over overwhelmingly in favour of a survival plan that will secure over 300 jobs.
Iralco, which currently employs 420 people, produces components for some of Europe's best-known car manufacturers, including Audi, BMW, Ford, Seat, Volvo and Jaguar.
The firm went into liquidation in April due to finanical difficulties, despite having a large number of orders on its books. It was announced last month that the company has been conditionally taken over by C&F Tooling.
A proposal put forward by the new owners was accepted by over 90 per cent of employees at a general meeting last weekend.
"This is a vote for common sense," said Unite national officer John Bolger following the counting of the vote this morning. "There will be voluntary redundancies and some changes to work practices but our members have looked at these in the context of the long-term future of the plant, and voted accordingly."
"Four months ago this community was facing total closure and a very bleak future. Today we can look forward to security of jobs for the majority and fair treatment for those who choose to accept the necessary redundancies," he added.
Iralco, which has been based in Ireland since 1964, is worth an estimated €8 million per annum to the local economy.
In other job-related news, the Ramada Hotel at Shaw's Bridge in Belfast has announced it is to establish 60 new jobs. The four-star hotel currently employs over 100 staff.
Meanwhile, the Institute of Accounting Technicians in Ireland (IATI) has announced the creation of ten
new jobs as it celebrates its 25th anniversary. IATI, which is based in Dublin is the leading accounting technician body in Ireland with over 10,000 members and students.
