The Minister for Defence, Mr Smith, and a senior SIPTU official will go to the US next Sunday to seek improved redundancy terms for workers in Roscrea.
Up to 140 full-time jobs will be lost next month with the closure of CM Offray, a ribbon manufacturer in the Co Tipperary town.
Unions have attacked the company for its offer of one week's pay for each year of service, plus statutory redundancy, arguing that the norm for the industry is three weeks' pay.
The American-based company however, has said it will opt for liquidation of its Irish operation if the initial offer is not accepted.