Examiner given more time to come up with a plan to save company
Ninety-four jobs at the Drogheda based Premier Periclase factory are hanging in the balance this weekend after the examiner who was appointed to the company last year appealed to the High Court for more time to come up with a plan to save the business.
There are fears that the company will be sold off, the workers made redundant and then re-opened after a year or more with fewer and less well paid staff.
Premier Periclase has traded successfully since 1977 but got into difficulties last year due to the dramatic rise of gas and energy prices. It owes Bord Gais €2.5 million and Energia €900,000 for electricity.
Today local T.D. Ged Nash expressed his growing concern at the continued uncertainty over the future of Premier Periclase.
“Last Friday, the Court agreed to allow more time for the Examiner to identify an investor” he said.
“I know from speaking to workers and some union officials close to the process that the Examiner met with workers and their union representatives last week.
“It seems to me from the conduct of the process by the company and the Examiner that the fate of the workers and their jobs is not the priority it ought to be.
“Information from Friday’s Court hearing made reference to a proposal on the table from an investor that could involve making all current workers redundant and the Boyne Road plant then re-opening, Phoenix-like, in 18 months time with new staff.
“The question for the Court and the Examiner is this; why should potential mass redundancies at the plant be considered as a fait accompli at his stage? There should be nothing that is pre-determined in this case.
“The interests of long-serving workers cannot be dismissed like this. They need to be put at the heart of the process. The workers deserve better than the treatment they have received to date.
“The idea that redundancies would be entertained at this stage of the process in order to make the company more attractive to a potential investor does not sit well with me.
“The next few weeks will be crucial for the company and for the workers, many of whom have decades of service with the company. They must be treated with respect and dignity.”
