As announced by me on 25 June 2001 the company concerned – Arramara Teoranta, the national seaweed company in which the State is the majority shareholder – has had to be restructured in the face of trading difficulties. This restructuring has involved the cessation of production at Arramara's Donegal plant and the relocation of all operations to the company's main plant in County Galway. In the short-term, arrangements have been made for an amount of Donegal harvested seaweed to be used in the Galway plant but it must be appreciated that this imposes an additional strain on the company's already precarious finances having regard to the substantial transport costs involved which are being met in full by Arramara.
As I indicated earlier, there are proposals being developed by third parties which are aimed at the continuation of seaweed development and production in Donegal and I hope that these can be brought to a conclusion shortly.