Workers at Derry firm Schivo will meet at the plant tomorrow to find out their fate after the company was placed into administration.
The 83 employees have been told to return to the premises tomorrow for an update regarding its future following the shock announcement last Friday.
Prior to this, Unite union representatives will today meet with the administrators, who arrived on site at the plant yesterday.
Schivo NI Ltd took over the former Maydown Precision Engineering plant in July 2015, but a spokesman said on Friday that they have been “unable to turn around” the company.
The workers have faced several days of uncertainty as the aerospace operator said any decision regarding redundancies will not happen until administrators complete their review.
Philip Oakes, regional officer with Unite, said yesterday: “Unite representatives will be meeting with the administrators on Tuesday at 2.30pm, to see where they are with any talks they may be having with any potential buyers.”
Mr. Oakes said that the staff he met with on Friday were “totally devastated” and that the announcement came “out of the blue.”
A spokesperson for the Waterford-based Schivo Group said on Friday: “Unfortunately, despite the best efforts of management and considerable investment, we have been unable to turnaround Schivo NI Ltd. Duff & Phelps has been appointed as Joint Administrators and is conducting a thorough review of the company and its operations before advising us on the best course of action.”
A spokesperson for Duff & Phelps said yesterday: “Philip Duffy and Stephen Clancy, managing directors at Duff & Phelps, have been appointed Joint Administrators of Schivo NI Ltd, a precision engineering company based in Derry.
“The administrators will be conducting a full review of the company and its operations.”
Sinn Féin Foyle MLA Raymond McCartney described the situation as “very concerning.” He said: “No doubt this announcement will have created fear and uncertainty. I will be in contact with the firm to discuss the current situation and to ensure the rights and entitlements of workers are respected.”
SDLP Foyle MP Mark Durkan, meanwhile, said the company now have a responsibility to reciprocate the loyalty of staff. He said: “Employees at Schivo NI, formerly Maydown Precision Engineering, have been a committed and reliable workforce – some of whom have served their employers loyally and faithfully for decades.”