Vol. 553 No. 2
433 Mr. N. Ahern asked the Minister for the Marine and Natural Resources the position and future status of Coillte Teoranta; if privatisation or another joint venture is under consideration; and if he will make a statement on the matter. [13478/02]
As the Deputy may be aware, the report of the consultancy study carried out by AIB Capital Markets and Merrill Lynch to assess the options for the corporate development of Coillte Teoranta was published in 2000. The consultants concluded, inter alia, that until the challenges facing the forest sector had been resolved, a change in the ownership structure of Coillte should not be considered. Various options outlined, including outright or partial sale and IPO, were regarded by the consultants as realistic options for consideration in the longer term. The consultants recommended no change in the ownership of Coillte for the forseeable future – probably the subsequent five years or so. My predecessor accepted the recommendations of the consultants and I see no reason to review the position at this juncture.
As to joint ventures, the Deputy may wish to note that, with the agreement of the Minister for Finance, my predecessor gave approval last month to Coillte to enter into a joint venture with an Austrian company, GriffnerHaus GmbH, in relation to the building of modular timber houses. No proposals in respect of further joint ventures have been submitted by Coillte.
