asked the Minister for Industry, Trade, Commerce and Tourism the steps the IDA has taken to recover public funds invested in a firm (details supplied) in Sligo.
14.
Ceisteanna—Questions. Oral Answers. - Sligo Firm.
13.
asked the Minister for Industry, Trade, Commerce and Tourism the discussions that he or his Department has had with the management of a firm (details supplied) in Sligo, to establish their intentions regarding the future of the plant.
I propose to take Questions Nos. 13 and 14 together.
This firm and their parent company have been notified by the Industrial Development Authority of the grant repayment liability arising from their closure and negotiations are currently taking place with the company concerning the discharge of this liability.
The Industrial Development Authority with whom I have had continuous contact, have been working closely with the company in an effort to secure a take-over of the plant for further manufacturing, and have been keeping me informed of what is being done. Details of the facilities available at the site have been circulated to all the IDA's overseas offices and contact has been made with the major nylon producers world-wide as well as a number of nylon end users and raw material suppliers but no firm proposals have emerged as yet.
In parallel with the approaches to manufacturers in the nylon sector the IDA in co-operation with the company, are preparing a brochure on the plant and facilities which will be used for marketing the plant to a wider range of companies who may have an interest in the facilities for other processing type projects such as chemicals, pharmaceuticals or food processing.
I am satisfied that all suitable steps are being taken to bring about a take-over of the plant for a suitable manufacturing operation.
With regard to negotiations which are currently taking place regarding IDA assistance, could the Minister say if the company will repay in full the assistance they received or what part of the grants, etc., will be paid? Could he also indicate if any approaches have been made by firms for the take-over of the factory?
Negotiations have not yet been completed regarding payment and, therefore, I cannot inform the Deputy of the result of the final outcome. With regard to taking over the plant, there was a preliminary interest by a company but nothing substantial that would give me cause for hope in the immediate future.