NEW interest has been declared in the Texas Instruments plant in Greenock.

The factory is currently earmarked for closure, with only one year left before the doors shut.

The news about a possible reprieve comes after the latest meeting of the task force set up to try and save the factory.

The group is chaired by Inverclyde Council leader Stephen McCabe and brings together public sector partners such as the Scottish Government.

Councillor McCabe said: “Now that we are in June, there is now only one year left until the planned closure of the Greenock plant.

“It was always going to be a longshot to find a buyer for the plant as a going concern. But, the task force members have not swayed in their joint support to examine opportunities for the plant itself, or to mitigate the impact of its closure if it comes to that.

“I welcome that the Scottish Government has and continues to pledge its support to finding solutions between any potential buyer and Texas Instruments to secure a deal if one can be done.

“It is heartening to hear, even at what feels like a late stage, that there is new interest. 

“It is important that all of the partners use every mechanism open to them to seek out solutions to make sure that this is still at the top of the agenda and that the potential loss of these highly skilled jobs is mitigated for the Inverclyde and the Scottish economy.” 

The Scottish Government business minister Paul Wheelhouse says he is ‘pleased to see that there is continued interest in the Texas Instruments plant and facilities at Greenock’.

He added: “The Scottish Government and our agencies continue to work with the task force and the management of Texas Instruments to secure a long-term, positive outcome for the plant and, crucially, its workforce and to support the economy of Inverclyde.”

Texas Instruments announced in 2016 that they wanted to move production from Greenock to sites in Germany, Japan and the United States. The plant subsequently received an extension of six months which will take it to June 2019.

The closure of the Texas Instruments plant is expected to result in the loss of 318 direct jobs. The financial loss to the Scottish economy in GVA (gross value added) is estimated at £32.2m.

An assessment of the potential job losses including direct, indirect and induced jobs highlighted an employment impact of 572 jobs would be lost to the Scottish economy.