EFFORTS Continue To Find Buyer For Texas Instruments Factory

TWO companies remain in talks with Texas Instruments following marketing of their Greenock factory which is to close in 2019.

The latest meeting of the task force set up a year ago after the announcement of the semi-conductor plant's closure committed to continuing the work to support finding a new buyer and heard calls for more action to mitigate the impact and build on the regeneration work across Inverclyde.

Chair of the task force and Leader of Inverclyde Council, Councillor Stephen McCabe, said: “The loss of Texas Instruments as a major employer in Inverclyde and Scotland is a blow to the economy and a potential loss of highly-skilled jobs. The marketing of the site has been ongoing and we have heard that five businesses have engaged in the process with two continuing to hold discussions with the company.

“The clear actions from the task force are to continue to support the marketing of the site to prospective buyers. While the interest has been positive, there will be a point where the company will require to focus on closure plans without a concrete offer."

He added: "The other area where partners have been working over the past year has been to ensure arrangements are in place for employees affected by the planned closure. The highly-skilled staff at Texas Instruments have, we heard, been working hard to make sure that as, potential future employees, they are in the best possible position. I commend the management at Texas Instruments for supporting them to make sure that they are in a position to secure future employment opportunities.

“Officers from the council will also continue with the work of identifying a range of projects which can be developed to try to get national funding support to help to mitigate the effect of this closure to build on the very positive work going on in Inverclyde to support business and encourage more inward investment."

Minister for Business, Innovation and Energy Paul Wheelhouse said: “I was pleased to be able to participate in the meeting of the taskforce and to discuss the latest position with the company and others.

"The Scottish Government is committed to working with Inverclyde Council, Texas Instruments and others partners to help find a buyer for the plant, to provide support to the workforce through our enterprise and skills agencies and to work together with the council and other local stakeholders to support the local economy and to capitalise upon the regeneration and the positive changes that are already happening in Inverclyde.”

The closure of the plant will result in the loss of 318 direct jobs across Scotland. The financial loss to the Scottish economy is estimated at £32.2millon.

A further assessment of the potential job losses including direct, indirect and induced jobs highlighted an increased employment impact of 572 jobs would be lost to the Scottish economy. That’s an increase on the previous estimate of 564.

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