'NEW Interest' In Greenock's Texas Instruments Factory

NEW interest has been expressed in the Texas Instruments plant in Greenock which is due to close in a year.

A task force has been working to try to secure a deal for the factory in Larkfield Industrial Estate.

Inverclyde Council leader, Councillor Stephen McCabe, who chairs the task force, said: “Now that we are in June, there is only one year left until the planned closure of the Greenock plant.

“It was always going to be a long shot to find a buyer for the plant as a going concern. But, the task force members have not swayed in their joint support to examine opportunities for the plant itself or to mitigate the impact of its closure if it comes to that.

“I welcome that the Scottish Government has and continues to pledge its support to finding solutions between any potential buyer and Texas Instruments to secure a deal if one can be done.

“It is heartening to hear, even at what feels like a late stage, that there is new interest. It is important that all of the partners use every mechanism open to them to seek out solutions to make sure that this is still at the top of the agenda and that the potential loss of these highly-skilled jobs is mitigated for the Inverclyde and Scottish economies.”

Minister for business, innovation and energy, Paul Wheelhouse, said: “I am pleased to see that there is continued interest in the Texas Instruments plant and facilities at Greenock. The Scottish Government and our agencies continue to work with the task force and the management of Texas Instruments to secure a long term, positive outcome for the plant and, crucially, its workforce and to support the economy of Inverclyde.”

Texas Instruments announced in 2016 a plan to move production to sites in Germany, Japan and the United States over the next three years. The plant received an extension of six months in its planned closure which will take it to June 2019.

The closure is expected to result in the loss of 318 direct jobs across Scotland. The financial loss to the Scottish economy in GVA (gross added value) is estimated at £32.2million. An assessment of the potential job losses including direct, indirect and induced jobs highlighted an employment impact of 572 jobs would be lost to the Scottish economy.

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