Vol. 514 No. 1
57 Mr. Deasy asked the Tánaiste and Minister for Enterprise, Trade and Employment if her attention has been drawn to the serious reduction in employment at a company (details supplied) in Tallow, west Waterford; and if she will request the IDA to intervene to secure the present level of employment. [3530/00]
Flair Plastics, a Dutch company, manufactures a range of plastic garden furniture at Tallow, County Waterford. The company currently employs 12 people.
I was originally advised of a crisis at the company in October 1998. By that time, the company had been experiencing difficulties since June 1995 when the parent company went into receivership. Another Dutch investment group, Badine BV, then acquired Flair Plastics. The owner of Badine BV died in October 1998, which in turn led to a series of financial complications for the company. This resulted in a critical cash flow position and this ultimately led to a series of takeover attempts to maintain employment.
Flair Plastics is now in the course of winding down its operations following the failure, in late 1999, of a potential rescue through a takeover by a Canadian company. The company also failed to respond to an IDA effort to resolve its financial difficulties. There is little prospect of successfully continuing operations and IDA is now seeking full recovery of its grants from the company.
The IDA will continue to work with the existing owners in an attempt to maintain employment for as long as possible.
