Vol. 547 No. 3
48 Mr. Howlin asked the Tánaiste and Minister for Enterprise, Trade and Employment if, in regard to her public statement of 13 December 2001, she will indicate the progress which has been made regarding her contacts with the receiver appointed to a company (details supplied) regarding the possibility of keeping the company in business and preserving employment; and if she will make a statement on the matter. [3319/02]
As a result of the appointment of a receiver on 13 December 2001, the company was advertised for sale in the media in January 2002. The receiver has sent out 20 brochures in response to inquiries received. Three interested investors have visited the company in recent weeks and one of these is sending back a team for further discussions next week. The outcome of these and other such visits will determine the future of the company.
I visited the company on 22 January to assess the situation on the ground and to meet the receiver, the managing director of the company, the trade union representatives and staff of the company. I am pleased the receiver has been able to ensure that the company will maintain employment until the end of March, which will facilitate the search for a new owner.
My Department and Enterprise Ireland will remain in close contact with the company and the receiver to facilitate any potential take over or restructuring of the company.
I thank the Minister for the reply. Has she had contact with the receiver subsequent to her welcome visit to Wexford? Has she further information to give the House or the workers on the length of time the company will continue to trade pending a determination on the future of the company? Has she positive news about any other industry that might take up slack that may come from redundancies from Wexford Electronics?
I have not spoken to the receiver since then but I am aware Enterprise Ireland representatives have done so. The company will only say it will trade until the end of March. Obviously, an extension of that period would depend on the interest of the company with which it is currently in discussion. If there was a successful acquisition of this company. I am confident the company would continue to trade in the intervening period while that is being finalised, but the receiver is only in a position to trade for the next eight weeks until there is a firm indication of a successful interest.
Written Answers follow Adjournment Debate.
