Voluntary redundancies likely at Westmeath car-parts firm

Workers from Iralco in Westmeath are due to meet with the company's new prospective owners this weekend to discuss the prospect of some voluntary redundancies.

Galway-based manufacturer CF Tooling conditionally agreed to take over the business last week.

In April of this year, doubt was cast over the future of Iralco’s 400 jobs when the company went into liquidation despite having lots of orders on its books.

Iralco produces components for some of Europe’s leading car manufacturers, including Audi, BMW and Volvo.

The company has been working in Ireland since the 1960s, and is worth an estimated €8m to the local economy.

The proposed buy-out by CF Tooling depends on reducing operating costs at the firm - this means some voluntary redundancies are likely to be sought.

Workers at the plant will learn more when they meet with the Galway firm this weekend.