HUNDREDS of jobs are to go at an electronics firm in Banbury.

Cooper Menvier, based in Southam Road, will cease operations next summer with the loss of 300 jobs.

The firm blamed falling profits and intense price competition in the electronics market in the last three years for the closure.

In a statement, managing director Eric Scrimshaw said the firm's financial results were "not acceptable and continue to decline".

Another 200 jobs are to go at the firm's other factory in Manchester although the Leeds plant will remain in operation.

News of the redundancies coincided with the firm's acquisition of Crompton Lighting, in Doncaster, which was announced on the same day yesterday.

The firm is to expand its operations at the Doncaster factory with the creation of 100 new jobs there.

In the statement, Mr Scrimshaw added: "The potential loss of jobs is regretted but is essential to protect the future of the business. Assistance to find alternative work would be provided and redundancy payments would be in excess of statutory requirements. Consultation with employee representatives is commencing."

When contacted by the Oxford Mail, a company spokesman said all directors were in meetings all day and they would not be fielding questions from the press.

Story date: Wednesday 03 November

Converted for the new archive on 30 June 2000. Some images and formatting may have been lost in the conversion.