Vol. 410 No. 3
20 Mr. Sherlock asked the Minister for Finance if he will outline in respect of the sale of the Verolme Dockyard, Cork, the reasons the yard was sold to the Dutch firm of Damen; if the IDA were consulted on the sale, if the IDA were engaged in negotiations with a British firm at the time the sale was announced by him; the numbers now employed at the yard and the expected number that will eventually be employed there; and if he will make a statement on the matter.
Verolme Cork Dockyard went into receivership in December 1984 and was in effect on the market from that time. The contract for the sale of the yard was signed by the receiver and Damen Shipyards of Holland earlier this year, as that firm had submitted the most economically advantageous tender for the yard. The IDA were closely involved with both the sale and with Damen's corporate plan for the yard, and were not in negotiation with any other firms at the time I announced that the yard was being sold.
