Euró Iompú Teo. commences liquidation process

31 August, 2007

min read

Údarás na Gaeltachta regrets to hear that Euró Iompú Teo has decided to cease trading and commence voluntary liquidation process.

Following a decision by Euró Iompú Teo.’s Board of Directors, the company informed its employees at a meeting at their plant in Gaoth Dobhair, at 1.00pm (Friday 31 August), that the company is to cease all business activities with immediate effect and commence the process of placing the company into Creditors’ Voluntary Liquidation. This decision will result in the loss of 45 jobs in Euró Iompú Teo.

Euró Iompú Teo.’s Board of Directors reached this decision, after the directors of the company conducted a thorough and detailed review of business activities and were regrettably left with no alternative but to commence the liquidation process. The decision was primarily due to increased competition in the bus manufacturing sector in the last few years and this had a considerable impact on the company’s competitiveness in the market.

Euró Iompú Teo. produced a wide range of coaches for the Irish and European Market, their products included: coach built vehicles, school buses, coach/bus conversions and special purpose vehicles. Euro Iompú Teo. was established in Gaoth Dobhair in 1985.

Every effort will be undertaken by An tÚdarás to find a replacement enterprise for the area. An tÚdarás are hopeful that a similar type of business can be established on the Business Park as the skills and training required have been developed in the area over the years. Arrangements will be made to register the employees with An tÚdarás if they are interested in other employment opportunities available in the locality.