asked the Minister for Industry and Commerce if, having regard to the widespread concern in the hosiery and knitwear industries at the prospect of the supplies of raw materials being monopolised, he proposes to take steps to prevent such a development; and if he will make a statement on the matter.
Ceisteanna—Questions. Oral Answers. - Hosiery and Knitwear Industry.
12.
I presume the question refers to the reports concerning a worsted spinning mill. The answer to the first part of the question is in the negative. This is a transaction between private enterprise undertakings and is to be welcomed, in principle, in so far as it facilitates adaptation and rationalisation.
The Irish firm which proposes to acquire ownership have assured me that they will have scrupulous regard to the interests of the customers of the previous owners and are prepared to give proof of this in practice. I have no reason to doubt this assurance and, in any case, have adequate powers of investigation should any difficulties arise. Certain discussions are in contemplation and I do not wish to make any further statement at this stage.