Vol. 446 No. 4
83 Miss Quill asked the Minister for Enterprise and Employment the discussions, if any, he has had with the Italian company reportedly interested in the Irish Steel Plant at Cobh, County Cork the prospects, if any, there are of its becoming involved in Irish Steel; and if he will make a statement on the matter. [2249/94]
I have not had any discussions with the Italian company in regard to their possible interest in Irish Steel. However, some preliminary discussions have taken place between the two companies and an official from my Department. A delegation from the Italian company is due to visit the plant at Haulbowline early next month.
It is far too early yet to say what the prospects are of the company becoming involved with Irish Steel. However, I am confident that, as a result of the recent agreement reached with the workforce in Irish Steel on restructuring and the introduction of new work practices and with new State investment in the company, the possibilities of attracting private sector involvement in Irish Steel are greatly increased. I should, of course, say that before the State investment can be made the approval of the European Commission and all member states must first be received. There is nothing automatic about getting this unanimous approval and a lot will depend on the quality of the Irish Steel business plan which must convince the Commission and the other Member States that Irish Steel can operate as a viable entity.
