MORE than 100 jobs are to go at a factory in the county after the site posted losses of £18million.

Grupo Antolin’s site on the Eurokent Business Park, near Ramsgate, is shedding 125 jobs.

The Spanish firm, which makes linings for car roofs, has said it will reduce staffing and operations at the plant by August this year.

In a statement, the firm said: "The factory has faced very difficult trading conditions and severe competition from countries with significantly lower production costs.

"Over the past five years the factory at Ramsgate has lost over £18million with losses during 2005 reaching £4.5million. In March 2006 alone it suffered losses of £300,000.

"The poor financial performace of the factory together with the difficult economic outlook in the wider car components sector, mean that the company faces further substantial losses, which threaten the viability of its other operations in the UK."

And it added: "While complete closure of the factory has been considered, the company remains committed to the UK and is making every effort to retain as many jobs as possible in Ramsgate."

When the factory opened in Ramsgate it was seen as a huge boost for Thanet and in 2003 had a visit from Prince Andrew. As well as helping the economy it has been credited in creating another 150 jobs in the rest of the country.

Staff and their representatives will be consulted before the changes are effected and a specialist consultant is being brought in to help with securing alternative employment.