Läpple Ireland has announced the closure of its plant in Carlow with the loss of 140 jobs.
The company issued a statement this morning saying the closure was due to heavy losses in recent years.
It added that the increasing competition and cost pressures that are affecting Ireland's manufacturing sector had seriously impacted on the company.
Management at the company have said it will immediately enter into negotiations with staff representatives on redundancy terms and the plant will cease operations later this year.
Described as one of Carlow's flagship employers, Läpelle Ireland was established in the town in 1974 and produced press tools and components for the car industry worldwide. At its height it employed up to 350 people in Carlow.
Meanwhile, the jobs of 120 workers at the Molex plant in Millstreet, Co Cork are under threat following a decision by the company to consolidate its Irish operations at its plant in Shannon, Co Clare.
The company has been in Millstreet since 1984, and is involved in the design and manufacture of interconnectors for the global market.
Meetings with workers at both plants are taking place today about the future of the company amid fears there could be job cuts.
The company plans to consolidate its Irish operation at the Shannon plant, where it employs 400 people, and to close down the operation at Millstreet.
This will involve the transfer of all of its manufacturing equipment to Shannon over the next six to nine months.
It will also involve the transfer of personnel. Negotiations are to get underway immediately with workers about redeployment and redundancy options.
The company is a subsidiary of the giant Molex Corporation, which has its headquarters in Illinois in the US, and has plants in over 40 countries worldwide.
It is understood the consolidation at its base in Shannon will give it more growth and expansion opportunities there in a bid to secure its future amid rising costs here and competition from its other plants which are located in lower cost economies.
