Saturday October 31, 2020

Firm laying off workers had profits of €159m

Belfast-based engineering group FG Wilson, which last week said it was laying off 760 people around Belfast, was sitting on retained profits of £129 million at the end of 2010.

15th September, 2012

Belfast-based engineering group FG Wilson, which last week said it was laying off 760 people around Belfast, was sitting on retained profits of £129 million (€159 million) at the end of 2010.

The layoffs at the diesel generator manufacturer are a major blow to the economy in the North, with production being moved to China. FG Wilson's multinational parent company, Caterpillar, blamed a slowdown in the global demand for generators for the job cuts.

However, the company's...

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