Korean electronics giant Samsung is to close a microwave factory in the UK with the loss of 425 jobs, it was confirmed today.

The plant in Billingham, Teesside, which also produces computer monitors, will close in April.

Deputy managing director John Slider said the company had considered a number of alternative options but closure was the only ''practical way forward''.

The decision was blamed on falling world prices for computer monitors and microwave ovens, making it ''impossible'' for the UK factory to compete with the cost of products made in eastern Europe and the Far East.