Aerospace firm Schivo in administration with 83 jobs at risk
More than 80 jobs are at risk after a Northern Ireland aerospace firm went into administration.
Londonderry firm Schivo NI, which bought over Maydown Precision Engineering, employs 83 people in making precision components for aerospace giants such as Airbus and Boeing.
Now business advisory firm Duff & Phelps has been appointed administrators after the company became insolvent.
The parent company of Schivo is based in Waterford in the Republic. Schivo NI has not filed full accounts but in January last year, a charge on its building and premises was registered by Allied Irish Banks (AIB).
Speaking in July 2015 when Schivo acquired Maydown, its chief executive Seamus Kilgannon said the deal showed that it was “willing to invest in the long-term future of the company”.
Trade union Unite called on the Stormont Executive to "now reconsider their refusal to bring forward industrial strategy for balanced regional growth".
Unite Regional Officer Philip Oakes said workers on last night’s shift were told not to come back to work today.
"Unite has repeatedly warned about the risk to these jobs following attempts by Schivo to de-recognise the union when they acquired the company eighteen months ago," said Mr Oakes.
"Political leaders told us that they would not publicly intervene as they had been provided assurances by the new management over long-term employment. Sadly, we now see the worth of those promises.
“This decision is the latest body blow to the industrial base of the North West. It also reinforces the need for both NI Executive parties to reconsider their opposition to an industrial strategy necessary to safeguard jobs in this vital sector and to secure balanced regional development," said Mr Oakes.