The Courier & Advertiser (Fife Edition)
Optical factory to close with loss of 70 jobs
Dip in pre-tax profits results in decision to axe production plant as company switches focus to ‘more profitable’ Somerset operation
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, will close as part of 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 the Glenrothes 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.
Despite delivering a 29% increase in output, the parent company has been hit with a 19.9% dip in pre-tax profits resulting in the decision to axe the Fife production plant.
Globally, the company will restructure its US operation in California as well as explore outsourcing manufacturing opportunities to companies in South East Asia.
Gooch & Housego bosses have entered into discussions with the Fife workforce which is 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.”
The Glenrothes closure is expected to be completed during the second half of the 2021 financial year.