With the permission of the Ceann Comhairle, I propose to take Questions Nos. 41 to 45, inclusive, together.
Fóir Teoranta does not directly employ staff. Under a management agreement staff services are provided by the Industrial Credit Company. Fifteen people are engaged on a full-time basis on the work of Fóir Teoranta and in addition the accountancy and administration services of the ICC are available to the Company.
The chairman of Fóir Teoranta is in receipt of £750 a year and each of the ordinary directors receives £500 a year. There are seven directors, including the chairman who is a retired civil servant. Three of the ordinary directors are managing directors of firms in the private sector, one is a chairman of a firm in the private sector, one is a trade union official and one is a rights commissioner.
As the information requested in Questions Nos. 41, 44 and 45 is in the form of tabular statements, I propose, with the permission of the Ceann Comhairle, to circulate it with the Official Report. I do not propose to indicate the total equity or total capital of any concern which the Fóir Teoranta investment represents as I consider that this would be an infringement of the concern's right to privacy.
The following is the information—
(i) Total Assets of Fóir Teoranta at 1st April 1972.
|
£
|
Total Assets
|
8,529,011
|
Financed as follows:
|
|
Share Capital (held by the Minister for Finance)
|
100
|
Advances from the Minister for Finance
|
7,487,976
|
Loan from Industrial Credit Company and accrued interest
|
993,788
|
Reserves
|
14,404
|
Current Liabilities
|
32,743
|
|
8,529,011
|
NOTE: The above represents the book value of the assets; the net value of these assets at 1st April 1972 is not available.
(ii) Fóir Teoranta Share Investments (including investments made by Taiscí Stáit Teoranta)
Name of Company
|
Amount of Investment (£)
|
Date of Investment
|
Aviation Development Ltd.
|
955,105
|
April 1964—September 1966
|
Electrical Industries of Ireland Ltd.
|
918,654
|
July 1971—December 1971
|
W. & R. Jacob & Co. Ltd.
|
394
|
February 1972
|
J.J. Murphy & Co. Ltd.
|
100,000
|
June 1971
|
Snia (Ireland) Ltd.
|
400,000
|
December 1969—May 1972
|
Talcoma Teo.
|
50,000
|
November 1972
|
Verolme Cork Dockyard Ltd.
|
450,000
|
December 1968—April 1971
|
J.H. Woodington Drogheda (1936) Ltd.
|
50,000
|
November 1971
|
|
£2,924,153
|
|
Avongate Milk Products Ltd.
|
326,000
|
January 1968—January 1971
|
Ballingarry Collieries (Production) Ltd.
|
263,870
|
July 1971—September 1972
|
Banagher Tiles Ltd.
|
45,000
|
September 1972—October 1972
|
Burke Higgins McNulty (Steel) Ltd.
|
40,000
|
November 1972
|
Carberry Milk Products Ltd.
|
155,000
|
December 1967—December 1968
|
Castleguard Textiles Ltd.
|
100,000
|
August 1972
|
Cloth Manufacturers Ltd.
|
76,500
|
March 1972—September 1972
|
Clover Meats Ltd.
|
103,750
|
May 1972
|
Container Engineering Ireland Ltd.
|
34,000
|
July 1972—October 1972
|
Edward Donaghy & Sons (Drogheda) Ltd.
|
50,000
|
July 1972
|
Dubarry Shoemakers Ltd.
|
70,000
|
September 1972
|
Electrical Industries of Ireland Ltd.
|
694,670
|
April 1972—October 1972
|
Ever Fresh Foods Ltd. (In Receivership)
|
76,625
|
August 1965
|
Fenian Gun Co. of Ireland Ltd. (In Receivership)
|
34,747
|
August 1969—March 1970
|
Fine Wool Fabrics Ltd.
|
12,000
|
September 1972
|
General Textiles (1970) Ltd.
|
100,000
|
August 1972
|
G.W.I. Ltd.
|
60,386
|
April 1970—April 1971
|
Hampton Mills Ltd.
|
100,000
|
August 1972
|
Herdmans (Ireland) Ltd.
|
25,000
|
December 1968
|
Ideal Weatherproofs Ltd.
|
50,000
|
June 1972
|
Irish Biscuits Ltd.
|
500,000
|
October 1971
|
Irish Dunlop Co. Ltd.
|
325,000
|
October 1969—November 1969
|
Irish Machine & Tool Co. Ltd.
|
30,000
|
September 1972—November 1972
|
Irish Tapestry Co. (Drogheda) Ltd.
|
45,000
|
November 1972
|
Irish Worsted Mills Ltd.
|
160,000
|
January 1971—June 1972
|
Kerry Precision Ball Co. Ltd.
|
100,000
|
March 1967—May 1969
|
Leitrim Furniture Co. Ltd.
|
40,000
|
August 1972—November 1972
|
Lovegrove Fabrics Ltd.
|
35,000
|
November 1972
|
Masser-Waterford Ironfounders Ltd.
|
342,000
|
September 1971—October 1972
|
Mitchelstown Co-operative Agricultural Society Ltd.
|
100,000
|
July 1969
|
Mollimex Ltd.
|
24,062
|
September 1972—November 1972
|
Mulcahy Redmond & Co. Ltd.
|
39,000
|
March 1972—September 1972
|
James J. Murphy & Co. Ltd.
|
420,000
|
July 1971
|
North Dublin Growers Ltd.
|
50,000
|
July 1969
|
P. O'Sullivan & Sons Ltd.
|
20,000
|
September 1972
|
Roadstone Ltd.
|
45,635
|
August 1970
|
Seafield Fabrics Ltd.
|
100,000
|
August 1972
|
Semperit (Ireland) Ltd.
|
900,000
|
April 1968—September 1969
|
Telectron Ltd.
|
250,000
|
October 1972
|
Verolme Cork Dockyard Ltd.
|
2,052,214
|
October 1968—January 1972
|
Waterford Co-operative Society Ltd.
|
75,000
|
March 1969—October 1969
|
Wesport Textiles Ltd.
|
100,000
|
August 1972
|
J.H. Woodington Drogheda (1936) Ltd.
|
20,000
|
March 1972
|
|
£8,190,459
|
|
|
|
|