JOBS at Langrish-based Tooling Products could be saved by a potential deal between the Weir Group and a French manufacturer. The two companies are in "exclusive" negotiations.
Privately-owned injection and compression mould manufacturer Sermo Industries is enquiring about the possibility of buying the local firm, which in June announced its intention to close.
A note announcing the potential deal said: "A successful conclusion to the negotiations would reduce the likely 120 redundancies previously announced by Weir following its decision to cease involvement in the business of Tooling Products, a supplier of equipment to the automotive industry."
It adds: "Sermo is committed to the automotive toolmaking market and sees the acquisition of parts of the business of Tooling Products as a means of providing sales, project management and mould manufacturing service for vehicle makers and their suppliers in the UK market."