FERMANAGH quarrying and construction firm P Clarke & Sons has been bought out of administration - but 27 jobs are set to go.
It confirms fears over redundancies at the Lisnaskea voiced by local people last week.
The company has been bought by Magherafelt firm FP McCann.
It will save 58 jobs out of 85 that work at the company.
P Clarke & Sons appointed administrators last Friday which it said was due to increased pressure on its available working capital.
Directors blamed an unfavourable exchange rate and a reduced workload from Transport NI and other government departments.
It had also endured a number of unprofitable contracts, according to administrators BDO.
BDO said the company would " continue to trade under new ownership and with the continued supportof the existing senior management team".
Joint administrator Michael Jennings said: "We are pleased that the business will continue to trade and that 58 jobs have been safeguarded as a result of the sale."
The Administrators and their staff will be responsible for maximising value for the Company’s
stakeholders through the realisation of the remaining assets of the Company.
Michael Jennings welcomed the sale of the business as a going concern.
Trade union activists last week warned of an "employment crisis" in Fermanagh amid talks of redundancies at P Clarke & Sons.
At the time, the chairman of one of Unite's two Fermanagh-based branches Padraig Murphy said:
“We cannot allow these jobs or this company to simply disappear. We need a local employment taskforce to address the employment crisis in Fermanagh."
The most recent results filed with Companies House in Belfast showed P Clarke & Sons made a modest £75,000 profit for the year to March 21 2014 - and also had 111 on the payroll.
However that followed losses amounting to £362,000 the previous year.
FP McCann meanwhile saw turnover jump 49 per cent to £135.6m in the year to January 31 2015 while profits were up 48 per cent to £8.1m.
The company already employs around 900 people.
The business operates in a range of building and civil engineering sectors, including construction, quarrying, surfacing and concrete.
It has defied the economic downturn by massively increasing profit, turnover and staff numbers in recent years.
FP McCann - which also has manufacturing plants at Alnwick (Northumberland), Ellistown (Leicester), Cadeby (Warwickshire) and Telford (Shropshire) - has been involved in some of the most high-profile civil engineering schemes in the north in recent years.
These include public realm schemes such as the Newcastle promenade and Belfast Custom House Square projects and major road schemes including the 2.5km M2 Ballymena by-pass link.
