Amann Industries has confirmed that it is to close its plant in Tralee, Co Kerry with the loss of 210 jobs over the coming 15 months.
In a brief statement issued after briefing staff this lunchtime, the company said the closure would be phased.
The spinning operation will cease production by mid-July this year, and its twisting operation will then be transferred to China over the following 12 months.
The development comes after 120 jobs were lost at the Tralee plant in January.
The company said the need to remain competitive in a very difficult, cost sensitive market, combined with high labour and energy costs led to its decision.
The German-owned company has been in Tralee since 1998 when it took over the former Klopman textile factory and with the aid of the government invested IR£26 million upgrading the operation here.
It produced highly specialised threads for the automotive, fashion and sports industries.
Much of the equipment is to be transferred to the company's operation in China over the coming 15 months.
New McDonald's outlet in Ennis
In better news, McDonald's is opening a new restaurant and drive-thru in Ennis, Co Clare, this weekend which will create 50 jobs.
It marks a €2 million investment in the new premises, and is part of an overall investment of €12 million by the international fast food chain here this year.
It will also create another 200 jobs with the opening of new restaurants in Maynooth, Portlaoise and Wexford.
The group currently has 75 stores in Ireland, employing 3,500 people from 40 different countries.
In addition, the chain says it is one of the largest purchasers of beef from Irish farmers, worth €86 million last year, for supply to its Irish and European outlets.
