Glanbia will write off €65 million from the closure of one of its British businesses.
Glanbia Consumer Meats (GCM) is to cease operations with the loss of 717 jobs. Glanbia blamed the decision on deteriorating trading conditions in Britain.
GCM supplies supermarkets retail and caterers with sliced cooked meats, sandwich meats and convenience foods. The company operates meat processing plants at Bradford and Milton Keynes.
Since the second half of 2000, GCM has faced worsening market conditions, high raw material costs and consolidation of supply to major retailers.
Glanbia managing director Mr John Moloney said the business was moving into a "severe loss-making situation" and had no real chance of trading out of its difficulties.
