Dáil Éireann díospóireacht -
Tuesday, 30 Jun 1998

Vol. 493 No. 3

Written Answers. - Irish Fertilizer Industries.

Nora Owen

Ceist:

99 Mrs. Owen asked the Tánaiste and Minister for Enterprise, Trade and Employment the plans, if any, she has in relation to Irish Fertilizer Industries; the proposals, if any, she has to sell the Government's 51 per cent share; the procedures she will adopt if she will be selling; the debt outstanding in this company or from NET; and if she will make a statement on the matter. [15880/98]

Tánaiste and Minister for Enterprise, Trade and Employment (Ms Harney)

Irish Fertilizer Industries (IFI) was set up in 1987 as a joint venture company with the State, through NET, owning 51 per cent and the remaining 49 per cent owned by Imperial Chemical Industries (ICI). Following recent re-organisation, ICI no longer has any remaining interests in fertilisers manufacture, apart from its IFI shareholding, and the company has, accordingly, indicated a willingness to dispose of this shareholding.

Over recent months, I have met with the board of IFI, and with representatives of the IFI group of unions. I have also had a discussion with the chairman of ICI and preliminary discussions have taken place between Departmental officials and ICI executives, with a view to agreeing a mutually acceptable approach in relation to IFI. I intend bringing proposals to Government in the coming weeks regarding the future of IFI. The State guaranteed NET debt is currently £166.5 million.