Around 320 people will be affected by the sale of Irish precast concrete products company Readymix, it has been revealed.

County Tyrone company Acheson and Glover, based in Fivemiletown announced the acquisition of part of the company for €49 million yesterday.

Readymix has said it had a business turnover of €55.8 million and earnings before interest, tax, depreciation and amortisation of €7.4 million.

-- Advertisement --

It is understood the staff will be affected by the transfer, after the company announced the disposal of selective parts of the group’s precast concrete products business. Readymix have said the money raised in the sale will be invested in its existing aggregates, ready-mixed concrete and concrete blocks business.

One of the current locations at the East Wall Road plant, has to be vacated by the end of 2008.

Readymix, in a statement, said the disposal provides an "excellent" development platform from which to invest in their core businesses.

(JM/SP)