(Cavan) asked the Minister for Industry and Commerce if he will state, in respect of a company (name supplied) in County Cavan, the amount of State investment in this company by way of grant and loan; the amount of private capital; the date on which the company commenced business; the maximum number employed by the company at any time; the number employed at present; the future prospects for employment and production; and if he will take steps to see that State investment in the company is protected and that employment is provided bearing a reasonable ratio to the amount of State finance provided
Ceisteanna—Questions. Oral Answers. - Investment in County Cavan Company.
37.
The published reports of An Foras Tionscal show a grant of £179,000 approved for the undertaking mentioned by the Deputy with actual payments amounting to £157,000.
I have no function in the matter of industrial loans.
The company commenced production in January, 1964.
I do not think it desirable that publication should be made of the amount of private capital or the numbers employed in respect of any one particular firm. The terms and conditions of the grant give An Foras Tionscal the right to revoke the grant and claim repayment if the company should cease business or be wound up.
The management of the company are making every effort to secure work to keep the labour force in employment and are being given every assistance in this aim by the Industrial Development Authority.