Stockport chain firm Renold plc considers 231 job cuts
More than 200 jobs look set to be lost at a Greater Manchester factory by a firm that makes industrial chains, gearboxes and couplings.
Renold plc, whose head office is in Wythenshawe, Manchester, is to close a plant in Bredbury, Stockport.
The group said the Bredbury site, which employs 231 workers, was no longer viable and said a consultation process was now under way with staff.
The firm was formed in Manchester in 1873 by Hans Renold.
The company, whose products have been used in theme park rides, water treatment plants, cement mills, agricultural machinery, mining, and sugar production, blamed excess capacity for the decision and said the site in Bredbury had incurred "significant financial losses" in recent years.
Robert Purcell, chief executive of Renold plc, said: "We know that this will be a period of uncertainty for our staff at Bredbury and we are committed to consulting fully with our employees and their representatives.
"We do however have a pressing need to reduce our cost base if the Group is to realise its future potential."