THE Texas Instruments plant is ‘unlikely’ to be sold as a going concern says council leader Stephen McCabe.

He is chair of the task force set up to try to rescue the Greenock facility after its owners announced last year that it would shut with the loss of 318 jobs.

Cllr McCabe said: “Every effort has been made to market the business, but without a concrete offer we now have to accept that a sale is unlikely. 

“A huge amount is being done to support the highly-skilled workforce, and to make sure they are in the best possible position to secure jobs should the plant close towards the end of 2018.

“We now need to look forward to beyond that date and make sure we have a strategy in place to maximise funding and investment opportunities to minimise the impact on the local economy.”

Business minister Paul Wheelhouse MSP says every effort is still being made to secure a buyer for the plant.

He said: “The Scottish Government and our agencies are committed to working with Inverclyde Council and other partners to support the Texas Instruments’ workforce, and to support the development of the Inverclyde economy through attracting inward investment and supporting local businesses to boost their competitiveness, internationalise and grow.”