Caterpillar - '˜economic hammer blow' says McMullan

He said: “My first thoughts are with the workers and their families as they absorb this awful news today. Not only is it a severe blow for them but also for the economy of the wider area.

“Management at the company now need to work with staff and their trade union representatives to make sure employees are kept up to date with all developments.

“They should also offer retraining or upskilling opportunities to help those losing their jobs find alternative employment.

“I will also be raising this issue with the Minister for the Economy to see what measures can be taken to support the workers at Monkstown.”