Truck-mounted forklift specialist Moffett Engineering has rejected as inaccurate a report that it had downsized.

The article published by the Irish Independent last month said that while Moffett had a "robust" performance in 2006, it was forced to restructure and downsize its business because of decreasing demand for its products in North America last year.

Keith Quigley, Moffett's managing director, says the newspaper had not approached him for comment.

"The article was accurate in that we have seen a slump in sales in the North American market. However, we have brought business from Holland to the company for the first time and we are as stable as ever."

Moffett, founded in 1945, employs around 300 people. Its former engineering manager, Martin McVicar, left the company in 1998 to establish the successful Monaghan-based Combilift group. Robert Moffett, who helped drive growth at Moffett Engineering, partnered with McVicar on the Combilift start-up. In 2006, both companies agreed to jointly market a truck-mounted forklift manufactured by Combilift.