Dáil Éireann Debate, Thursday - 26 June 2014
95. Deputy Denis Naughten asked the Minister for Jobs, Enterprise and Innovation if the Industrial Development Agency has been in discussion with the management of Medtronic following the purchase of the Covidien plants in Athlone and Tullamore; the implications of this sale for employment on the three sites at Athlone, Tullamore and Galway; and if he will make a statement on the matter. [27701/14]
View answerIDA Ireland has ongoing close relationships with both Medtronic and Covidien both in Ireland and in the United States. The Agency informs me that it will continue to engage with all parties to endeavour to influence a positive outcome for Ireland as the structure of the merger develops and decisions are made.
I understand that completion of the transaction is subject to the approval by both Medtronic and Covidien shareholders and requires regulatory clearances in the U.S., the E.U., China and certain other countries. The transaction is expected to close in the fourth calendar quarter of 2014 or early 2015. The combination of Medtronic and Covidien’s highly complementary product portfolios will allow the combined entity to address device needs in virtually every major device segment and I will seek to ensure that potential opportunities which may be developed for the Irish plants are rigorously pursued.
