High-tech firm to close its Eynsham site (From Witney Gazette)

High-tech firm to close its Eynsham site

8:09am Friday 17th February 2006 in Witney

HIGH-TECH company Oxford Instruments is set to close down its Eynsham site, with the loss of up to 50 jobs.

The company, which will focus on its nanotechnology business, employs more than 90 staff at Eynsham, with another 200 working across Oxfordshire.

Company spokesman, Lynn Shepherd, said: "We are trying to minimise the job loss, but it looks like about 50 redundancies.

"We are proposing, at the end of March, to consolidate all the UK magnet and cryogenic expertise at the Tubney Woods site, near Abingdon. This will form a new business Oxford Instruments Nanoscience."

If the plan is given the green light by shareholders, all contract and temporary staff at the magnet technology company will lose their jobs, while long-term staff will be offered a generous redundancy package, or be re-deployed elsewhere.

Ms Shepherd added: "The business has been headed in this direction for some time now. Low-field magnets have been making a loss for some years, so we are simply responding to the changing market place.

"Low-field magnets have been making a loss for some years, so we are simply responding to the changing market place."

Lynn Shepherd

"People want smaller and more in-depth technology, and this is what we are focusing on, with more sensitive magnets for research."

The reshaping of the business began last year, under new chief executive, Jonathan Flint, when the company experienced a multi-million-pound growth explosion.

Founded by couple Martin and Audrey Wood, and based at Tubney Woods, near Abingdon, Oxford Instruments was one of the spin-out companies from Oxford University.

The firm, which last year produced the world's most powerful magnet, has entered a 30-day consultation period with staff.