asked the Minister for Industry, Commerce and Energy what steps, if any, he proposes to take to ensure that two companies (names supplied) in County Cork do not close permanently with consequential major redundancies.

The companies to which the Deputy refers have recently been put into voluntary liquidation.

I am very concerned at the loss of employment which would result from the permanent closure of the factories. I understand that the liquidator, with the assistance of the Industrial Development Authority, is endeavouring to sell the firms as going concerns. In the event of this not being possible, the IDA will direct their efforts towards securing replacement industries for the factories that will provide prospects of good and enduring employment.

Was any financial assistance sought by either company prior to the closures?

So far, assistance approved to one of the companies has been £102,000, of which £79,000 has been paid. In respect of the other company the figures are, £53,000 approved and £49,000 paid. That is a total of £155,000 approved and £128,000 paid.

When?

From 1972 to 1974. HP facilities have been made available to one of the companies in respect of new machinery and machinery which needed modernisation. That happened in late 1974.

Is the Parliamentary Secretary aware of the disappointment and frustration of the employees because of the long delay from 11th August to 6th October in appointing a receiver?

I am so aware.

Will she take steps to ensure that in future when such an occurrence arises in respect of a company where certain holdings are owned by concerns outside the country Irish directors will be called in immediately?

I do not think I could give that assurance. In regard to the companies concerned, if the liquidator makes a reasonable offer and if the IDA can locate a possible buyer, the IDA would be prepared, if necessary, to buy the factories for resale at favourable terms and also to provide generous grants towards the purchase of machinery.