asked the Minister for Industry and Energy the current situation in relation to a firm (details supplied) in County Louth; the IDA's financial involvement in it; when its affairs will be wound up; and the efforts that have been made to try to secure a replacement industry for this building.
Written Answers. - County Louth Firm.
386.
Due to substantial losses incurred as a result of depressed market conditions, a receiver was appointed to the company in question in January 1981 and it closed in February 1981. The Industrial Development Authority has a fixed charge on the factory site and buildings and any proceeds from the sale of these will be set off against the company's outstanding liabilities to the IDA, which now amount to approximately £2.1 million.
Since the closure of the factory, the receiver has been making every effort to find a purchaser. In addition, the IDA have been promoting the factory through its network of overseas offices with a view to locating a suitable alternative industry. These efforts are continuing, though no definite proposal for a takeover or replacement industry has so far emerged.