THE union Amicus last night announced it had agreed a redundancy package for workers at an electronics plant.
A total of 761 staff at LG Philips Displays in Durham will be made redundant when it closes in July.
The closure of the factory was blamed on the rise in popularity of flat screen TVs in Europe.
The workers had a guaranteed redundancy package from LG Philips, but the union said it had secured a deal that was independent of the national agreement.
Carol McFarlane, Amicus regional officer, said: "We are happy that an agreement has been reached so quickly. It is good news for our members.
"Sometimes, when a company closes, there is little support available for the workforce. But in this case, LG Philips Displays and the taskforce are doing everything possible to help, and the employees appreciate this."
Paul Beasley, the plant's human resources manager, said: "The attitude of the workforce throughout has been magnificent.
"Production and efficiency levels remain high and we would once again like to place on record our appreciation for their ongoing support."
The company and union declined to comment on the exact nature of the package.
Mark Lloyd, chairman of the task group set up to help the workforce find jobs and retrain, said: "With this issue resolved, we can now focus on helping the workers map out their futures and grasp new opportunities."
The taskforce has set a target of placing 90 per cent of the workforce either in work or full-time training within six months.
Next week, Right Coutts Consultants will start interviewing 761 staff to create a package of training and support.
A job centre will also be set up on site and will remain open until October.
So far £785,000, more than £1,000 per employee, has been made available by Government agencies and LG Philips Displays, to help retrain staff and support them in finding alternative employment
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