The Market Weighton Town Crier

Proposed Factory Closure Economic Bad News For Town

190 employees at local company Europower Hydraulics face redundancy following the decision to transfer operations to Poland and Leeds by parent company, Oystertec Plc.
Following the acquisition by Oystertec last year rumours were rife that it would be the death-knell for the town's largest employer, and despite considerable discussion between employer and employees no way forward has been found and it is likely that the factory will close by 2005.  This can only be bad news for the 190 employees who will inevitably be made redundant, but also for the economy of the town and especially those retail premises in nearby Southgate.
The company maintain that in spite of significant cost reduction measures the site continues to make a loss, and relocation of operations will protect the long-term future of the business.

The Europower Hydraulics Facory in Southgate, Market Weighton

The proposed closure of the town's main employer is symptomatic of many company acquisitions/takeovers in the UK today.  Moving production overseas can only mean one thing, "lower paid workers = lower costs = more profit".  The long term effects on the local economy never seem to enter the equation; how often have we seen this over recent years.

On the assumption that the factory does close many in the town are speculating on what will become of the large land area that the site occupies.  Again the rumour factory is working overtime and top of the list are yet another housing development and/or a supermarket.
We can only "wait and see". 

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First Posted :18 April, 2004
Last revision : 18 April, 2004