850 out of work.THE Viasystems firm collapsed in September 2001. Over 850 workers at the circuit-board maker's plants in Longbenton, North Tyneside North Tyneside is a metropolitan borough of Tyne and Wear in the North East of England. Its seat is at the Town Hall, Wallsend. Created in 1974, the borough lies within the historic county boundaries of Northumberland. , and South Shields South Shields, city (1991 pop. 86,488), South Tyneside, NE England, at the mouth of the Tyne River. It is a significant port. Shipbuilding and marine engineering are the main industries; chemicals and paints are manufactured. lost their jobs. The Longbenton plant was opened just three years earlier with pounds 24m in Government aid. The company had announced a loss of pounds 18.5m for the financial quarter up to June 2001. Circatex completed a takeover of the South Shields plant in December 2001 safeguarding the site's remaining 800 workers, but the plant closed for the final time in March 2006. The collapse of Viasystems was blamed on cheaper circuitboards from China flooding the market. |
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