A Fife manufacturer, which only six months ago won a national award for achieving record output, is to close with the loss of around 70 jobs.
Spanoptic Ltd, which has made precision optical components from its Glenrothes base at Eastfield Industrial Estate since 1976, is shutting as part of wider cost cutting measures.
Parent company Gooch & Housego, which acquired Spanoptic in 2013 for £6.6 million, is to create a single manufacturing hub at its Ilminster plant in Somerset, forcing the closure of its Fife operation.
The decision is a huge blow to the Glenrothes workforce which, in September 2019, won a national best practice award from productivity experts Sharing In Growth for achieving record output.
The parent company said it had been hit with a 19.9% dip in pre-tax profits resulting in the decision to axe the Glenrothes production plant.
Globally, the company will restructure its US operation in California as well as exploring outsourcing manufacturing opportunities to companies in South East Asia.
Gooch & Housego bosses have entered into discussions with the Fife workforce which are set to be concluded by the end of March.
Gooch & Housego chief financial officer Chris Jewell, said: “We are still in the consultation period but I can confirm the plan to close the Glenrothes store.
“It’s a real shame as the Glenrothes team have done a brilliant job of turning things around, but we have to look at the business as a whole.
“It is no longer viable to operate two sites in the UK and as Somerset is larger we will focus operations there.
“We have a hugely talented team at Glenrothes who I am very disappointed to lose and if any of them did want to transfer to Somerset that is something we’d definitely discuss with them.”
Glenrothes Councillor Altany Craik, Fife Council’s spokesman for economy, tourism, strategic planning and transportation, offered his sympathies for the staff adding that the closure was a disappointing one for the town.
He said: “Losing any jobs is a serious blow for the town but it’s always especially disappointing to see highly skilled jobs go.
“The added uncertainty created by the coronavirus pandemic makes for an especially testing time for all those who have lost their jobs and we will offer all the assistance we can to help.
“As a specialist workforce I’m sure with the right support those skills will be transferable and help all those who will be losing their jobs to find new employment.”
The Glenrothes closure is expected to be completed during the second half of the 2021 financial year.