Tánaiste responds to closure of Irish Ispat

The Tánaiste & Minister for Enterprise, Trade & Employment, Mary Harney today (Friday, 15 June 2001) said that she was dismayed by the announcement by Irish Ispat that it is to shut down its steelmaking operations in Haulbowline, Co Cork and call a meeting of creditors for the appointment of a liquidator.

"My Department has been in ongoing contact with the company and its staff in recent times and we were aware of the strong competitive difficulties that were being experienced especially as a result of declining prices internationally for steel products allied to rising raw material costs. I am also aware that negotiations involving the company and union representatives were in train in regard to a new viability plan and I would still retain some hope that this might be brought to fruition. However, I have to accept that today’s announcement represents a devastating blow to the workforce and their families."

"Whilst Ispat is a private company and decisions in regard to its future are a matter for management, I will be staying in close touch with developments. I would encourage all parties to do what they can in the limited time remaining to work towards finding solutions to current difficulties," the Tánaiste concluded.