Black day of cuts as jobs go at Imperial Stag factory
NORTH Kerry company Imperial Stag/Imperial Schrade Europe Ltd has ceased trading with immediate effect, it has been confirmed.
The company, which produces pocket-knives and cutting tools for DIY and gardening, has made the necessary arrangements to have a liquidator appointed.
This will leave a further 13 people jobless, with the announcement coming less than a fortnight after news that there would be 28 redundancies at the plant.
Staff were informed of the shock decision just weeks after management had announced that 13 jobs would be kept to run a warehousing and a small production line.
Last Friday members of SIPTU rejected redundancy terms which offered workers the statutory pay-out. A company spokesman said production in Ireland became very difficult as a result of cost pressures due to Chinese competitors pricing.
Other difficulties encountered included a reduction in product demand, particularly in US, triggered by the September the 11 attacks, where knives were used. Market and exchange rate difficulties due to the weakness of the US dollar also caused serious problems, according to management at the company.
We regret having to take this final decision, which in no way reflects on the individual performance of our staff, said a spokesman.
We acknowledge the contribution of our dedicated staff over many years and particularly their understanding and co-operation during recent difficult times for the company.
Imperial Schrade Europe Ltd was established in Listowel 43 years ago and has significantly contributed to the economic life of the area, over this long period. Imperial Schrade Europe is a subsidiary of US-based Schrade Corp, which manufactures of knives and cutting tools.