THE theft of over £100,000 of equipment from a Darwen foundry was not a factor in the decision to close it down with the loss of 64 jobs.

NSK Europe announced on Thursday that it was shutting its foundry in Davyfield Road, Lower Darwen, formerly known as RHP Bearings, following heavy losses over a two-year period.

But a company spokesman said that the theft of the unique pattern mouldings in July, which led to nine temporary staff being laid off and increased fears of the impact it would have on full-time staff, was not a deciding factor in the decision to shut the foundry down.

He added: "Although the theft was very serious, it did not tip the balance or make the decision any clearer. The decision to close was a reflection on the price cutting that is going on worldwide in the business."

He said: "The foundry at Blackburn has been struggling for some time to be competitive.

"It has a great workforce, who have tried their best, and has been a state-of-the-art operation, but it has been making a loss due to more and more low cost work coming in from outside Europe."

The unusual mouldings, which weighed around three tonnes, were a key part of the company's production process.

At the time of the theft human resources director David Smith warned that if the equipment was not returned there could have been implications for full-time staff at the end of the summer break.

But Mr Smith said later that the firm had secured replacement mouldings and, following the annual holiday, things were getting back to normal. Police believed the stolen equipment would only be worth £3,000 if sold for scrap, due to its weight and specialist nature.

The foundry will now close next year, with job losses phased over a number of months.

Detailed consultations are now being held with all employees and their representatives, and the company has pledged to do everything possible to support the workforce during the closure.