An engineering firm based in Co Antrim has gone into administration with the loss of almost 150 jobs.

William Industrial Services (WIS) has collapsed into administration.

Stephen Cave, of administrators PwC, said: "Whilst we are urgently reviewing the company's financial and trading position, we have unfortunately had to make the majority of the workforce redundant with immediate effect."

Elsewhere, talks at saving the Schlumberger factory in Newtownabbey are in difficulty, according to Unite the union.

Susan Fitzgerald, Unite Regional Officer for Schlumberger said: "This decision demonstrates very clearly that corporate profits are the only determinant when it comes to Schlumberger corporate management. Today they confirmed to workforce  representatives that they had rejected a local management counterproposal which offered a way to save some of the jobs on site through production diversification. The proposal would have resulted in a significant increase in operating utilisation rates but was rejected by a corporate management who remain intent on offshoring production to low cost centres in Mexico and China and back to the United States.

"Regardless of the huge profits that they have made from this workforce Schlumberger's sole objective appears to maximise profits through a race to the bottom on Labour costs. Mexico and China are renowned for their exploitative wage rates and we ask whether the corporate management team have been motivated by the 'America First' perspective propounded by Washington.

"This is not a company under pressure but one making huge profits. Today in summarily rejecting the proposal and proceeding with their plans to close the plant, they have demonstrated clearly that the interests of shareholders trumps any semblance of corporate responsibility."

SDLP North Belfast MLA Nichola Mallon said the news was a "double blow".

She said: "The announcement that local engineering firm William Industrial Services has gone into administration with immediate job losses is devastating. This news, coupled with reports of the breakdown in talks to save the Schlumberger factory in Newtownabbey, is a double blow for workers and their families, and the manufacturing sector. 

"It is important that all possible assistance is given to the workers at William Industrial Services by the Department for Economy and Invest NI to ensure they get all they are entitled to, and they are supported to find alternative employment quickly.

 "It is also imperative that management and the union side get back round the table to see if the talks to save jobs at the Schlumberger plant can be salvaged. The SDLP is here to play whatever part we can to help save these jobs."

(CD/LM)