asked the Minister for Finance the Government's plans for the future development of Irish Steel.
Written Answers. - Irish Steel Development.
65.
As announced by the Minister for Industry and Commerce on the occasion of the Annual General Meeting of Irish Steel Ltd. on 10 November 1988, the Government feel that the best way of securing the future of Irish Steel is by way of some form of association with another steel company. To this end, discussions are taking place with a German company, Korf KG., which has expressed an interest in the purchase of Irish Steel. Negotiations have taken place, and a feasibility study, with a view to establishing the overall viability and acceptability of Korf KG's plans for Irish Steel, is in hands. If that feasibility study turns out to be positive, the Government have decided in principle that they would be prepared to transfer the company to Korf KG, subject to certain conditions.
Among these conditions are that the debts of the plant would be paid off, and that suitable guarantees would be obtained in respect of employment at the plant.