The US-owned Flexsys Rubber Chemicals factory in Cefn Mawr, Wrexham, is due to be closed down because of rapidly increasing competition from low-cost economies.
The factory, which has been operational since 1930, is due to be closed down gradually over the next three years, with 163 workers facing redundancy.
“Increasing competition from low-cost manufacturers in the Far East has led to this decision to exit those parts of the Flexsys business served by the [Wrexham] site,” said manager Simon Howarth.
“While our people have worked tirelessly in recent years to ensure a safe and cost-effective operation, Flexsys has been forced to make this difficult decision to secure its wider business.
“In making this announcement, Flexsys regrets the loss of employment and the impact this will have on the lives of its employees and will do all it reasonably can to provide assistance to them. The company also recognises that this closure represents the end of an era for a manufacturing site with a long and distinguished history.”
Parent company Solutia has now begun a 90 day consultation period with employees to examine other possible options for the factory.