Vol. 397 No. 4
2 Mr. S. Barrett asked the Minister for Industry and Commerce if he will give details of the commercial State companies under the control of his Department; and if he will outline the plans he has to provide these companies with the necessary resources for expansion.
My Department have responsibility for two commercial State companies, namely, Irish Steel Limited and Nítrigin Éireann Teoranta.
In relation to the latter, NET, since the formation of Irish Fertiliser Industries, the joint venture with Imperial Chemical Industries, this semi-State body is in essence a holding company. Expansion proposals for the manufacturing — trading operations formerly run by NET are a matter for the board of Irish Fertiliser Industries. I am not aware of any proposals for expansions which would require additional resources from the shareholders.
In relation to Irish Steel, there are no proposals recommending that additional resources be provided for the expansion of the company by the Government.
In respect of Irish Steel, has the Minister consulted the board in relation to the possible sale of the company to the German company; have the board been involved in any of these discussions or are they being carried out directly by his Department?
The board of Irish Steel have been consulted on several occasions and have made their views clear on the matter.
Is the Minister following the views expressed by the board regarding their preference as to whom the company should be sold to?
The board and I seem to be ad idem about the matter.
In relation to Irish Steel, can the Minister tell me if a definite offer has been made by any company other than the German company?
Yes.
A definite offer?
It is definite but not formal and subject to due diligence.
