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Closing factory got £5m in grants Closing factory got £5m in grants
(about 2 hours later)
A company which announced the closure of its east Belfast factory last week received more than £5m in grants, the BBC has learned.A company which announced the closure of its east Belfast factory last week received more than £5m in grants, the BBC has learned.
Up to 210 jobs are to be lost with the closure of the Hughes Christensen drill bit factory in Castlreagh.Up to 210 jobs are to be lost with the closure of the Hughes Christensen drill bit factory in Castlreagh.
Invest NI has revealed that since 1995 the company received £5.4m in grantsInvest NI has revealed that since 1995 the company received £5.4m in grants
The chairman of the Enterprise Committee at Stormont, Alban Maginniss, said attempts should be made to see if some of the money can be re-paid.The chairman of the Enterprise Committee at Stormont, Alban Maginniss, said attempts should be made to see if some of the money can be re-paid.
"It was money well invested, initially, in this plant," he said."It was money well invested, initially, in this plant," he said.
"But, now with the fact the plant is going to be closed, it seems to raise a question as to whether that money should or should not be recouped."But, now with the fact the plant is going to be closed, it seems to raise a question as to whether that money should or should not be recouped.
"In my view, there is a good case for recouping that money. "In my view, there is a good case for recouping that money."
"Because otherwise we're going to be taken for a ride by other firms who are just coming here looking for grants."
The trade union Unite has accused the company of exporting jobs and technology paid for by the Northern Ireland taxpayer.The trade union Unite has accused the company of exporting jobs and technology paid for by the Northern Ireland taxpayer.
Since 2002, the company received £700,000, some of this put towards developing the manufacturing of a new diamond coated drill bit in Belfast.Since 2002, the company received £700,000, some of this put towards developing the manufacturing of a new diamond coated drill bit in Belfast.
That component will now be made at its other facilities.That component will now be made at its other facilities.
Fall in demandFall in demand
The factory has been in east Belfast for 56 years and was the first American multi-national to locate here.The factory has been in east Belfast for 56 years and was the first American multi-national to locate here.
Hughes Christensen said it was pulling out because of the fall in demand for drill bits.Hughes Christensen said it was pulling out because of the fall in demand for drill bits.
In a statement the firm's parent company, Baker Hughes, said its operations would be transferred to its base in Texas.In a statement the firm's parent company, Baker Hughes, said its operations would be transferred to its base in Texas.
The company made 135 people redundant last year, blaming a decline in the world market for drill bits.The company made 135 people redundant last year, blaming a decline in the world market for drill bits.
"We had hoped that the redundancies we made during 2009 would allow us to continue bit manufacturing at the Woodlands, Texas, and here in Belfast," the company said."We had hoped that the redundancies we made during 2009 would allow us to continue bit manufacturing at the Woodlands, Texas, and here in Belfast," the company said.
"However, we have determined, in the face of expectations for significantly weaker demand for Tricone bits, that we can only support a single facility to make these bits.""However, we have determined, in the face of expectations for significantly weaker demand for Tricone bits, that we can only support a single facility to make these bits."