The Tanaiste says she’s deeply disappointed by the loss of 250 jobs in Sligo.

Stiefel Laboratories, which makes skin products, is to cease operations after a review found under-utilised capacity.

Founded in Sligo in 1975, the company was bought by pharmaceutical giant GlaxoSmithKline in July. 

A review has since found under-utilised capacity across the Stiefel network and the facility will be wound down, closing by the end of 2013 with the loss of 250 jobs.

GlaxoSmithKline says workers were told of the decision today and formal consultations will begin immediately.

The Tanaiste says she’s deeply disappointed and will immediately engage with the IDA and state agencies to try to secure new investment.

Mary Coughlan says discussions will also take place regarding potential opportunities for the site in the Finisklin Industrial Estate.