Vol. 346 No. 10
asked the Minister for Fisheries and Forestry if he will make a statement on the failure of the Government to provide financial assistance for a firm (details supplied) in County Clare thereby threatening the jobs of hundreds of workers in the plant, in forests and in associated projects.
276.
asked the Minister for Fisheries and Forestry the efforts he is making to secure the employment of the work force of a firm (details supplied) in County Clare; and the action he proposes to take to keep the factory in production.
277.
asked the Minister for Fisheries and Forestry the action he is taking to protect employment in a firm (details supplied) in County Clare.
I propose to take Questions Nos. 275, 276 and 277 together.
I do not accept that the Government have failed to provide financial assistance for the firm referred to.
Since the company was restructured in May 1981 the State has invested £1 million by way of share equity and loan capital in the company. Government guarantees in respect of bank borrowings of £1.1 million were given. A further provision of £1.012 million for capital grants at a rate of 60 per cent of eligible expenditure on capital equipment was made available for the company but it only availed of £195,000 since 1981. In addition, no charge was made for standing timber supplied to the company and the harvesting expenses involved were subsidised to a substantial degree. The value of this concession is of the order of £1 million. Despite these State measures the company has up to the date on which it was put into receivership accumulated losses of the order of £0.9 million.
The Industrial Development Authority has been asked to explore with the receiver the possibility of attracting interest in a sale of the factory with a view to securing the future of the work force.
