The strength of sterling and the effect of cheap imports are being blamed for yet another closure in Northern Ireland' clothing and textiles industry. The latest casualty is the Newry company Synthetic Textiles, which has announced that it is to close within the next few months with the loss of 42 jobs.

Synthetic Textiles produced fabrics, yarn, and sewing thread for industrial use. Its managing director Mr Tony McCormick said that there was little chance of a last-minute reprieve.

"Like everybody else in this sector," he said, "we have been under extreme competitive pressures. The strong pound has prevented us from selling into Europe, and cheaper competition has caused severe problems for us. Things have been increasingly difficult over the last couple of years, and we have concluded that it is not possible for us to carry on any longer."

Four years ago, the company invested £1.4 million in an attempt to expand its product range, and had hoped for a 60 per cent increase in turnover and an increased workforce as a result. But Mr McCormick said that when those predictions were made, nobody could have foreseen the effects of the current market conditions.

"We are very sad that we have had to make this decision," he said.