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(From Hull Daily Mail)
Workers and unions at a factory shutting next month have praised managers for giving millions of pounds to secure bumper pension and redundancy packages.
Gearbox factory Sumitomo Cyclo Europe (SCE) is closing at the end of March with the loss of 62 jobs.
Japanese parent company Sumitomo Heavy Industries will instead make the gearboxes in China. The company has invested more than GBP10m to fill deficits in its pension scheme and to fund redundancy packages.
SCE managing director Shaun Dean, who has worked closely with trade union Amicus, said pensions will be guaranteed - and said staff will be offered redundancy …