Over 80 jobs are under threat in Ballygawley, as the major firm Acheson & Glover Precast Limited, has been placed into administration.
The firm currently employs 105 people, 20 of whom are in GB with the remainder at Ballygawley.
The Group’s other trading company, Acheson & Glover Limited which employs around 230 people will be unaffected.
The compnay says the decision follows an in-depth review of the Precast business over a 12 month period following a downturn in market demand for its flooring and precast in the UK.
The Directors of Acheson Holdings Limited said its Precast business had been losing money for some time.
In 2018 the company had already consolidated and closed one of its two factories, however demand has continued to fall by between 35 and 40 per-cent leading to further financial losses leaving the company’s Directors reluctantly with no option but to call in administrators.
A statement read, “We are disappointed to have to make this decision and we will be doing all we can to minimise its impact.”
“Our people are the very heart of our business and we fully understand how difficult this will be for our colleagues so the decision to cease precast manufacturing has only been made after lengthy consideration.”