€1.6m redundancy costs add to timber firm’s losses

Redundancy costs of €1.6m at a timber processing firm contributed to losses at a Co Clare company totalling €3.4m in 2011.

Finsa Forest Products Ltd was one of the main employers in East Clare for many years.

Figures show that numbers employed at the Scarriff-based firm dropped from 77 to 37 to the end of Dec 2011.