Unions representing workers at Wellman International in Mullagh, Co Cavan have said that a new owner for the company must be found amid fears of job cuts at the manufacturing and recycling business.
The firm, which employs 215 people, filed a petition with the High Court on Tuesday to place its operation in Mullagh into examinership.
Three unions, SIPTU, Unite and Connect, met workers in recent days and will be engaging with the examiner next week.
They are calling on the Government to intervene to find an alternative owner for the factory.
The company manufactures recycled polyester fibres from used plastic materials that have a wide variety of industrial uses, including in the automotive, home, leisure and hygiene sectors.
However, Wellman said the business has suffered losses in the double-digit millions in 2023 and 2024, resulting from increased energy prices following "geopolitical conflicts and fierce competition from low-priced imports from China, Africa and Middle East".
As a result, its parent company, Indorama Ventures, has withdrew its support.
SIPTU Organiser Alan Clark said the announcement by the company earlier this week was a "body blow" to the local community.
"Wellman have been an established employer in Mullagh, Co Cavan, for over 50 years so SIPTU is calling on the Government to intervene and protect as many jobs as possible," Mr Clark said.
"The reality is that any job losses will have a major impact not only on our members but the local community.
"SIPTU is calling on all local public representatives to put their shoulders to the wheel and work with the IDA to support these workers in securing a prospective purchaser or investor in order to protect the long term security of employment in the area."
Unite Regional Officer Michael O'Brien said: "The workers are very clear that the plant can be turned around if the majority of plastic recyclables currently being exported was instead processed locally.
"This plant can play a critical role in helping Ireland meet our EU plastics recycling targets and must not be allowed to close by default.
"When we meet the examiner next week, Unite will be stressing that the expertise and experience of the workforce must be harnessed to maximise the chances of finding a buyer and preserving these vital jobs and skills," Mr O'Brien added.
Connect National Construction Official Tom Faulkner said that any job losses would also have a "devastating" impact on the local community.
"We are calling on the government to ensure that all relevant agencies work together with the examiner to secure a new investor in order to safeguard the 217 jobs and the future of the plant going forward."
Wellman International began operations in Mullagh in March 1973.
The site, which was acquired by Indorama Ventures in 2011, is the largest European producer of recycled polyester fibres.
Indorama Ventures is listed in Thailand and is a petrochemicals producer, with a global manufacturing footprint across Europe, Africa, Americas, and Asia Pacific.
The Cavan-based arm of the company carries out manufacturing in Ireland but principally does its business in the rest of Europe.
