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Electronics Production | July 02, 2007

Molex to close plant on Ireland

The Shannon-based cable and switch-maker Molex Ireland Ltd currently are undergoing restructuring. The company said that it was going to consolidate its operations at Shannon by closing down its Cork-based plant at Millstreet, over 120 will lose their jobs.
According to The Irish Times accounts filed at the Companies Registration Office showing that Molex operating profit last year was €2.8m after tax, while it also received a dividend of €5.5m contributing to retained profits at the operation of €57m.

During that year, the numbers involved in production at Molex dropped from 497 to 433.

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