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| Some of FCI brands |
French company FCI Ireland BV announced Tuesday that it is to close its County Cork manufacturing plant by the end of next year with the loss of 240 jobs.
The company says the decision is part of a global restructuring plan to move manufacturing operations to low cost locations.
The company makes precision electrical connectors for the automotive industry in Fermoy, and employs 260 people there.
The plant, which opened in Fermoy ten years ago, is to shut by the end of 2008. Twenty people will continue to be employed in customer support.
Last month, the North Cork town was hit by the decision of BUPA Ireland to pull out of the Irish market with the loss of 300 jobs at its Fermoy headquarters.
With operation in 30 countries and sales of €1.28 billion in 2005, FCI says that it is a leading manufacturer of connectors.
FCI says its 13,500 employees are committed to providing customers with high-quality, innovative products for a wide range of consumer and industrial applications.
FCI designs and manufactures connectors solutions targeting the following market applications:
> Automotive
> Telecommunications Infrastructure
> Consumer Electronics
> Data Storage
> Energy, Power and Utility
> Industrial, Instrumentation & Medial
