G&H is to close site with loss of 70 jobs
G&H Glenrothes makes precision optical components at its facility on the Eastfield Industrial Estate. Founded as Spanoptic Ltd in 1976, it was acquired by multi-national Gooch & Housego in 2013.
In September the Glenrothes factory won a national best practice award from productivity experts Sharing in Growth for achieving record output.
This came after delivering a 29 per cent increase in output and a 200 per cent improvement on year-on-year profits.
However, with the overall company announcing pre-tax profits had dipped 19.9 per cent on the prior year at the end of that month it has now been decided it cannot afford to run two UK sites.
As such a single hub will be established for the precision optic business at its base in Ilminster, Somerset.
The company has now entered into discussions with staff, which are set to be concluded by the end of the financial year.
Gooch and Housego chief financial officer Chris Jewell said: “We are still in the consultation period, but I can confirm the plan is to close the Glenrothes site.
“It is a real shame as the Glenrothes team have done a brilliant job of turning things around, but we have to look at the business as a whole.
“It is not longer viable to operate two sites in the UK and as Somerset is larger we will focus operations there.
“We have a hugely talented team at Glenrothes who I am very disappointed to lose and if any of them did want to transfer to Somerset that it something we’d definitely discuss with them.”