The company's German owner says it cannot make the Leighton Buzzard plant pay.

Boss Manufacturing, formerly Lancer Boss, has been turning out fork lift trucks at Leighton Buzzard for nearly 50 years.

But on Thursday, owner Jungheinrich of Germany said the factory will close in 18 months and production will be moved abroad with the loss of 180 jobs.

More efficient

Boss was bought by Jungheinrich of Germany nine years ago.

The factory is much more efficient than it used to be, but still makes a loss.

The strong pound has made it more difficult to export, but the company denied suggestions it was closing the factory because of Britain's reluctance to join the single currency.

The company will now be moving all its production to plants in Germany and France.

Three hundred sales and service staff will remain on site.