Unite, the trade union representing the IRALCO workers, announced that over 90% of those balloted voted to accept the proposals made at a general meeting of staff 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.'
IRALCO currently employs 420 people in Collinstown and is worth an estimated €8 million per annum to the local economy.
Liquidators were appointed in April when the plant closed its doors for one week prior to reopening after discussions with workers to give it the best possible chance of finding a buyer.
It was announced last month that the company has been conditionally taken over by C&F Tooling.
IRALCO has manufactured automotive parts in Ireland since 1964.
