Potez Aerospace Limited at Baldonnel in County Dublin is to close with the loss of 150 jobs.
Workers at the Potez plant were given the news by managing director, Mr Charles Erlam at very short notice.
Speaking to RTÉ News about the financial challenges the company faces he outlines efforts to save the factory from impending closure. He describes the latest offer from the Irish government for financial assistance as "inadequate" and delayed.
The Potez project began in 1961 and with financial aid from the state, a modern plant was built along the N7 Naas Road. It was originally intended that the plant would manufacture the Potez 840s. However, by the time of closure seven years later not one aircraft had been built. Instead, the company had concentrated on the production of aircraft components.
An RTÉ News report broadcast on 25 July 1968. The reporter is Pat Sweeney.