10 years?
I don't suppose that coincides with the end of subsidies and tax breaks used to encourage the plant to set up there in the first place?
Seagate is closing one of two manufacturing plants in Northern Ireland, axing 768 permanent and 159 temporary employees. The 10-year-old plant at Limavady in County Londonderry manufactures nickel plated aluminum substrates — the base platter on which magnetic materials are deposited for making hard drives. "We have made …
So... The world's already got too many substrate manufacturing plants, so we can't keep this one open... But we're opening a new plant in Malaysia with roughly the same number of new jobs in it?
Wouldn't it have been more honest simply to say "Malaysia's cheaper. Sorry."
So. Next hard disk upgrade isn't going to be Seagate, then. Just, you know, 'cos.
I live just down the road from this plant, and have many relatives and friends working there.
Seagate got the plant for nothing, and have received lots of grants in addition, Since then, more public investment has gone into specialist drainage systems, and access roads in and around the plant.
They state that they will save £15m per annum by moving to Malaysia, which to my mind is very small beer compared to there global revenue. In a rural area of unemployment such as here, this will mean a lot of people on the dole for a long time, costing probably much in excess of the abovementioned £15m pa.
So we, the tax payers, again pick up the tab, one way or another, for the fat cats!
Disgusted.