TÁNAISTE MEETS WITH I.F.I. UNIONS

Mary Harney, Tánaiste and Minister for Enterprise, Trade and Employment today (Friday, 31st July 1998) met with representatives of the Irish Fertilizer Industries Group of unions

Speaking after the meeting, the Tánaiste stated "I have had a productive meeting with representatives of the IFI group of unions and I welcome the realistic and pragmatic approach that they are adopting. I have reassured them that I will seek to safeguard IFI operations and employment levels in any sale of the company".

The Tánaiste went on to indicate that it was still very early days in the process and added "We have had preliminary discussions with ICI, the other IFI shareholder (with a 49% shareholding). Both shareholders have agreed to seek to progress a joint sale of IFI and I expect matters to progress significantly over the coming months".

The Tánaiste continued "I am seeking to secure the long term future of IFI by locating a purchaser who is committed to IFI as a manufacturing operation".

After a formal tendering procedure the Tánaiste has appointed IBI Corporate Finance to advise and assist the State in relation to any sale of IFI.