Economic fears after job losses

Manufacturers are facing a difficult few months ahead

Fears have been raised for the Montrose economy after job losses were announced at manufacturing firm VectoGray.

The company, which provides equipment for the oil and gas industry, is proposing cutting about 78 posts.

Restructuring will see some of the work carried out at the Charleton Road plant moved to other sites which produce similar products.

However, the firm plans to develop the site into a dedicated centre for global businesses by investing £2.75m.

The money will be used for expansion and upgrading of the facility.

The firm has stated that consultation would be undertaken to try to minimise the loss of employment.

It's a massive blow to the local economy, it's obviously very worrying Cllr Paul Valentine Angus Council

Matt Corbin, VetcoGray regional leader UK and continental Europe, said: "Our primary concern right now is the well-being of our employees and ensuring a smooth consultation process.

"These actions are difficult, but necessary in order to position our business for long-term growth."

The announcement comes just weeks after pharmaceutical firm GlaxoSmithKline confirmed it was axing 55 positions at its Montrose plant.

Local councillor Paul Valentine previously worked at both Glaxo and VetcoGray.

'Major concern'

He said: "It's a massive blow to the local economy, it's obviously very worrying.

"I have friends and work colleagues at both facilities and I'm absolutely gutted for them.

"There's a lot of worry with these people just now about whether they're going to have a job next year and of course there's the knock-on effect for the other local businesses.

"It's a worrying time for the town as a whole."

David May, economic development convener at Angus Council, said: "This is one of the biggest companies in Angus so obviously there is major concern about the impact of job losses.

"It's a very big blow for the area and it is likely to have quite an impact in terms of the local economy as suppliers and contractors could also be affected."

Cllr May said he was hoping to meet with VetcoGray representatives and the council's head of economic development early next week to discuss help for employees to find alternative employment.