WORKERS face losing their jobs after an historic Weardale foundry operator revealed plans to quit a town.

Bonds says it could leave Tow Law, where it once made cannonballs for the British Army, after Brexit worries compounded oil and gas difficulties.

The announcement came on the same day Weardale tank track maker Cook Defence Systems, in Stanhope, confirmed 19 job cuts.

Bosses said that move, which included voluntary and compulsory departures, was a response to declining mining industry demand, adding the changes will secure the plant’s long-term future.

Last night, North West Durham MP, Pat Glass, said she feared Bonds wouldn’t be the last North-East firm to suffer because of the EU vote.

The Northern Echo understands Bonds’ proposals include leaving its two Tow Law sites and moving work to an existing base in nearby Crook, which could see some staff leave.

No numbers of potential redundancies have been released.

The Crook base is around twice the size of Bonds’ Tow Law presence, which dates back to the 1860s, and it is understood significant investment would be needed to improve the latter, particularly its Ironworks Road site, which is surrounded by houses and sits next to Tow Law Town’s football ground.

A spokeswoman confirmed Bonds’ 112-strong workforce have been informed of the proposals, adding consultation will start in earnest next week.

Paul Duncan, chairman, who revealed BondsHold Limited, which operates the Bonds businesses, has bought a 22-acre foundry site in Scunthorpe to target new international work, added: “The UK foundry sector is still of strategic importance to many UK and overseas manufacturers of equipment used in utility, industrial and marine developments.

“It is all too easy during adverse times for these traditional businesses to flounder.

“Bonds has bought such businesses and changed them sufficiently for them to have a future.

“These developments will make the Bonds group stronger to help overcome the ongoing market challenges and leave us better placed for the future.”

Known for making pump casings and valves for the offshore industry, Bonds has supported the North Sea sector for decades.

However, its history goes much further, back to the Victorian age, to the days of supplying the British Army, while it has also repaired Royal Navy anchors.

The Northern Echo previously revealed Bonds was speaking to a number of staff at one Tow Law site about switching to a four-day week, albeit on existing hours, to counter the oil and gas sector’s enduring downturn.

The company’s Tow Law North works oversee finishing and quality control of products up to 12,000kg, while its South works carry out moulding and casting work.

Its Crook site, converted from a former fridge factory, caters for medium-sized castings from 50kg to 2,500kg.

Pat Glass, North West Durham MP, she was disappointed Bonds’ plans seemed to emanate from the EU vote.

She said: “Bonds I know campaigned strenuously for a remain vote and have, I understand, said that the closure is a direct result of the vote to leave the EU.

“Unfortunately, I suspect this is just the beginning of a leave vote on manufacturing industries in the North-East.”

At Cook Defence Systems, William Cook, director and general manager, said it had been forced into change.

Earlier this year, The Northern Echo exclusively revealed the business was making parts for the next generation Ajax tank in a £30m deal.

It previously unveiled a £70m four-year agreement with the Ministry of Defence to supply tracks for tanks, including the Challenger and Warrior.

However, Mr Cook said: “Worldwide sales have fallen steeply over the last few years, thanks mainly to the global recession and commodity prices.

“We have had to cut production in line with declining demand and regrettably this has necessitated in 19 redundancies.

“It was necessary to secure the long-term viability of the plant.”

He added 70 people remain on the shop floor, with a further 20 in office and support roles.

County Councillor Anita Savoury last night spoke of her shock.

She said: “This is a devastating blow for the people of Weardale.

“Some people have been employed there for many years and a lot of local families will be affected.”