Element Six announces exit from Isle of Man
More than 30 jobs are likely to be lost when a company based in Ballasalla closes its Isle of Man operation.
Element Six - a company that makes synthetic diamond materials - is moving its production site from the freeport to Ireland and South Africa.
The firm currently employs 33 people on the Island, but warns the staff face implications when the operation closes later this year.
The company revealed it's been reviewing its position for two years, and insists the decision is not a reflection on the performance of its Isle of Man team.
Element Six, which is part of the De Beers Group, has had a base on the Island since 1988.