AN ENGINEERING company has reassured its Blackburn workforce after axing 430 jobs in its West Yorkshire factory.

NSK-RHP Bearings Limited today announced plans to close its Ferrybridge factory with the loss of 430 jobs.

The company, which employs 80 people in Blackburn, has gone on to say the East Lancashire enterprise is not under threat.

The firm, which is the world's second largest manufacturer of ball bearings, blames the strength of the pound for the decision.

Workers in Blackburn produce castings for the Ferrybridge plant but expansions are planned at other factories.

Talks are already taking place between bosses and union and staff representatives about redundancy packages.

John McAndrew, managing director of the European division of the multi-national company said: "I deeply regret today's announcement which has been taken in the best interests of the company as a whole.

"Competition in Ferrybridge's market is intense and there is continuing price pressure in Europe and the high value of sterling is making it difficult for us to compete effectively.

"The proposal to close Ferrybridge does not take the pressure off our Blackburn plant in terms of continuing to reduce its costs, but there are no redundancies planned there."

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