Dáil Éireann Debate, Tuesday - 29 May 2018
486. Deputy Mick Wallace asked the Minister for Agriculture, Food and the Marine his views on the number of contracts his Department and State agencies under his aegis hold with a company (details supplied) in view of its recent announcement regarding the need to raise an emergency €700 million; if contingency plans are in place if the company were to collapse; and if he will make a statement on the matter. [21666/18]
Amharc ar fhreagraDetails of the outsourced services provided by the company to my Department were furnished to the Deputy in a response to a recent parliamentary question (Ref PQ 2309/2018).
The company has assured my Department that it is a viable operation on the basis of a number of actions taken to strengthen the balance sheet, reduce debt, increase the efficiency of the business and invest for the future. In this regard it launched a Rights Issue earlier in the year to raise approximately €700 million to reduce leverage and to fund investment over the coming years. The company has a strong management team in place with significant experience in delivering a high quality service to the Department.
As regards the twelve State Bodies under the aegis of my Department, the information requested is an operational matter for the State Bodies themselves. I have referred the Deputy’s question to the Agencies and have requested that a response should issue within 10 days.
My Department is currently examining approaches to development of contingency arrangements for these outsourced services.
