Statement from Tánaiste Mary Coughlan regarding SR Technics

14^th May 2009

The Tanaiste and Minister for Enterprise, Trade and Employment Mary Coughlan, T.D., has noted with serious concern yesterday’s announcement by SR Technics regarding the proposed sale of certain assets on their facility in Dublin airport.

The Tánaiste has had extensive contacts with SR Technics over the past number of months and was extremely disappointed at this development.

The firm has indicated that the bids received for its Dublin operations, which were supported by the IDA and EI, were “well below” their assessment of the current market value of the assets there.

It is understood that the company is still open to bids for remaining parts of the business including base maintenance, line maintenance, garage and the remaining tooling and equipment. The company has indicated that it will accept bids for base maintenance until Friday, May 22nd and Wednesday, May 27th for line maintenance or garage.

The Tanaiste said she will continue to work with the IDA, Enterprise Ireland and the Dublin Airport Authority as well as the remaining bidders and any other interested parties to maximise the employment opportunities at the plant in addition to the 250 plus jobs which will remain in line maintenance and design.

ENDS/ETE2041