The town of Ballinasloe in east Co Galway has suffered a major economic setback with the news that Square D, a maker of electrical products, is to close its factory with the loss of 385 jobs.
The company blamed a drop in demand for its circuit breakers for the decision. The plant will close in the first half of 2003 and staff number will be reduced during this time.
Fine Gael's Mr Paul Connaughton TD described the closure as "the most brutal blow the town of Ballinasloe has ever had to endure."
Mr Connaughton claimed that the effect of the closure on a town of Ballinasloe size is equivalent to over two thousand jobs lost in Dublin.