asked the Minister for Agriculture and Food if he has had any discusions with representatives of private companies regarding a possible take-over of all or part of the Irish Sugar Company; if he will identify any such companies and the representatives of the companies he met with; if, in particular, he has had any contact with the firm Food Industries plc regarding the Irish Sugar Company; and if he will make a statement on the matter.
Written Answers. - Irish Sugar Company.
26.
The Government have not discussed or considered the possibility of selling Siúicre Éireann cpt or part of it to a private company or otherwise.
I did not have any discussion on any proposals to this effect. Any indications of any possible interest brought to my attention were referred by me to the chairman of Siúicre Éireann for consideration by the board.
On 18 January 1989, I was made aware for the first time of a direct approach from Food Industries plc to Siúicre Éireann when the chairman of Siúicre Éireann gave me a copy of a letter to him dated 17 January 1989 from the chairman of Food Industries plc. This letter also indicated that "we (i.e. Food Industries) shall bring our interest to the attention of the Government".
The Deputy will be aware that the Minister for Labour and I jointly indicated to the Irish Congress of Trade Unions, on 6 February 1989, that it was not Government policy to privatise Siúicre Éireann.
The Deputy will also be aware that on 8 February 1989 the Government announced that it had been decided to appoint Price Waterhouse as consultants to examine the affairs of Irish Sugar plc., and its future development in the Single Market. Their terms of reference are:
To review the commercial operations of Irish Sugar plc.; to report on any restructuring or other developments considered necessary to ensure its long-term commercial viability and growth; to assess the economic and financial implications of any recommendations; to complete the review and submit a report by end March, 1989.