Forklift truck firm cuts 350 jobs

Linde said the relocation of operations was inevitable

A Hampshire company that makes forklift trucks and equipment used in warehouses has said it is cutting 350 jobs.

All manufacturing and engineering activities at the Linde plant in Basingstoke will be transferred to France and Germany.

About 200 jobs in administration and sales will remain in the town.

Linde said the cuts, which will be made over the next 12 months, are down to the global recession and a major downturn in demand for its products.

Kerry McDonagh, chief executive of Linde Material Handling (UK) Ltd, said: "We have thoroughly examined all alternatives to a cessation of production in Basingstoke.

"However, we concluded that all other product transfer options would not be feasible.

"For economic reasons, as a result of the dramatic market deterioration, the high fragmentation of production in relatively small plants necessitates a concentration on major sites.

"Much to our regret, the relocation of the reach trucks, counter-balance trucks and tractor product lines to larger factories is inevitable."

Gordon Riske, chief executive officer of Kion Group, Linde's parent company, said: "The severity of the global economic crisis is exceeding all expectations.

"We believe that the first signs of recovery will not be seen before 2010 at the earliest."

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Basingstoke residents said the news was a blow to the local economy