Talks with Ispat International Unsuccessful Tánaiste Regrets Company's Decision

The Tánaiste and Minister for Enterprise, Trade and Employment, Mary Harney, today (Friday, 22 June 2001) met with the Senior Management of Ispat International in London to discuss the company's recent announcement that it was closing its subsidiary, Irish Ispat Ltd in Haulbowline, Co. Cork. The meeting, which had been arranged prior to the recent talks under the chairmanship of the Labour Relations Commission, took place at the Company's Headquarters in London.

After the meeting the Tánaiste said: "Unfortunately, the company confirmed at my meeting with them that, in their opinion, the Irish plant is not capable of achieving viability. Consequently, they have confirmed that their decision to close Irish Ispat is irreversible and that it is their intention to proceed to call a creditors meeting on 28 June next as originally planned.

"I regret very much that the outcome of this meeting was not successful. However, I have to accept the decision of the company is final. This is a devastating blow to the workforce and to their families and the priority now for the Government is to ensure the availability of alternative employment in the area. I will be putting in place the necessary initiatives to ensure that this can be achieved and have already arranged for FAS to get in touch with representatives of the workers to determine available skills and where necessary arrange re-training."