Waterford factory takeover by Kingsford Industries
The IDA had negotiated a takeover of the factory’s assets by Kingsford Industries, subject to financing arrangements; the plan would retain 90 jobs and create 50 more.
asked the Minister for Industry and Energy if he is aware that a factory (details supplied) in County Waterford is in danger of closing; and if he will make a statement on the matter.
Comment on this
As already announced the Industrial Development Authority have concluded negotiations for the takeover of the assets of the company in question by a new company, Kingsford Industries Limited. A formal agreement will be signed when arrangements with the appropriate financial institutions have been concluded. The takeover would preserve the jobs of the 90 people currently employed in the factory. The new company also plans to create a further 50 jobs over the next 18 months.
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