A FACTORY employing around 150 people in Caerphilly will close next year due to "economic conditions".

The US parent based parent company announced today that The Penny & Giles factory in Cwmfelinfach will close in 2017.

The firm makes equipment, including joysticks and sensors for commercial vehicles and industrial use.

Jim Ryan, of the North Carolina-based Curtiss-Wright Industrial Group, described the decision as an "appropriate" action in response to the "global business climate".

He said: "The information we're providing at this moment is somewhat limited but the plant will close at some point in 2017.

"Outside of that in accordance with company policy we're unable to release any more information at this point.

"The decision was made as a result of business and economic conditions."

Curtiss-Wright employs staff in the US, Germany, China and India and has another UK centre in Dorset.