asked the Minister for Finance if the examination in relation to the Dundalk Engineering Works expenditure to which he referred in the reply to Question No. 29 of 9th April, 1964 has yet been completed; if so, if he will indicate the result thereof; and if he will bring up to date the information included in such reply.
Written Answers. - Dundalk Engineering Works.
95.
The position of the Industrial Engineering Company, Dundalk, has been under continuing examination both before and since the date of the Deputy's question of 9th April, 1964. As a result of this examination, the Government recently decided that further Exchequer support for the Dundalk group is not justified and the Industrial Credit Company, as debenture holders, were asked by the Government to appoint a receiver to administer the affairs of the Industrial Engineering Company and its subsidiaries in accordance with the terms of the agreements under which the debenture loans were made.
The information requested in the final part of the Deputy's question is: (a) accumulated losses of the Dundalk group of companies to 31st March, 1965 (the latest date for which audited accounts are available), £1,842,354 and (b) total number at present employed in the group, 675.