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Dáil Éireann debate -
Tuesday, 31 Mar 1998

Vol. 489 No. 3

Written Answers. - Coillte Teoranta.

John Gormley

Question:

39 Mr. Gormley asked the Minister for the Marine and Natural Resources the recent consultations, if any, he has had with Coillte Teoranta regarding the company's business expansion plans. [7806/98]

Coillte Teoranta's business expansion plans are the subject of regular discussions with my Department. In recent times, there have been discussions with Coillte Teoranta, and other interested parties, in relation to the company's proposals to acquire a majority shareholding in the Balcas Group, the sawmilling company based in Enniskillen.

As the Deputy is no doubt aware, the Government agreed in December last to approve the proposed purchase, subject to certain safeguards. These safeguards relate to the independence of Coillte Teoranta's electronic log auctions, the Balcas share of log supplies and further development of forward contracts between Coillte Teoranta and the sawmillers.

The consent of the Minister for Enterprise, Trade and Employment is also required for the proposal in accordance with the requirements of the Mergers and Take-overs (Control) Acts, 1978 to 1996. I understand that she is expected to decide on the matter shortly.

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