16/10/2002
200 jobs to be axed at Richardsons
Over 200 jobs are set to go at Belfast fertilizer producers Richardsons, after parent company Irish Fertilizer Industries (IFI) called in the liquidators.
In all 620 jobs face the axe across the company's three sites at Arklow, Cork and Belfast, after it posted losses of €30 million in the past year.
The Irish government, through the nationalised company NET, and Imperial Chemical Industries (ICI) – the company's two major shareholders holding 51% and 49% respectively – have said that they not prepared to back IFI through its latest difficulties.
The Tánaiste, and Minister for Enterprise Trade and Employment, Mary Harney, said: "We could only propose support for the company if there was a viability plan – and no viability plan was forthcoming.
"I couldn't justify, nor were the other shareholders willing to countenance, putting more money into the company without a viability plan. Notwithstanding the huge efforts made by the management, made by the board and the workers, it just wasn't possible to come forward with the viability plan and so it wasn't justifiable for us to put more public money into the company at this time."
Ms Harney said that fertilizer can be imported at $40-$50 cheaper per tonne than if it were produced within Ireland. The current method of making fertilizer was described by Ms Harney as "a very expensive way" to proceed.
She added: "The challenge is now to find alternative employment and I will ensure that every help is forthcoming to give the workers the skills that are necessary to find new jobs as soon as possible."
The Irish government and ICI have provided €34 million in investment in the past two years, and, since inception in 1961, the value of the Exchequer support for NET and IFI has amounted to nearly €750 million in present-day terms.
Ms Harney said that the company operates in a "very difficult trading environment in which it has struggled to provide a return on this investment". That position, she said, has deteriorated and became critical in recent months as losses mounted.
The Richardsons plant, at the Port of Belfast, processes ammonia from Cork and other imported raw materials such as phosphoric acid and potash to produce NPK compound fertilizers.
Since 1860 Richardsons Fertilizers has been manufacturing and marketing quality fertilizer products in Belfast mainly for the Northern Ireland and Republic of Ireland farmer.
The NPK fertilizer products manufactured in the Belfast factory are marketed as Richardsons Fertilizers in Northern Ireland and as IFI in other markets.
(GMcG)
In all 620 jobs face the axe across the company's three sites at Arklow, Cork and Belfast, after it posted losses of €30 million in the past year.
The Irish government, through the nationalised company NET, and Imperial Chemical Industries (ICI) – the company's two major shareholders holding 51% and 49% respectively – have said that they not prepared to back IFI through its latest difficulties.
The Tánaiste, and Minister for Enterprise Trade and Employment, Mary Harney, said: "We could only propose support for the company if there was a viability plan – and no viability plan was forthcoming.
"I couldn't justify, nor were the other shareholders willing to countenance, putting more money into the company without a viability plan. Notwithstanding the huge efforts made by the management, made by the board and the workers, it just wasn't possible to come forward with the viability plan and so it wasn't justifiable for us to put more public money into the company at this time."
Ms Harney said that fertilizer can be imported at $40-$50 cheaper per tonne than if it were produced within Ireland. The current method of making fertilizer was described by Ms Harney as "a very expensive way" to proceed.
She added: "The challenge is now to find alternative employment and I will ensure that every help is forthcoming to give the workers the skills that are necessary to find new jobs as soon as possible."
The Irish government and ICI have provided €34 million in investment in the past two years, and, since inception in 1961, the value of the Exchequer support for NET and IFI has amounted to nearly €750 million in present-day terms.
Ms Harney said that the company operates in a "very difficult trading environment in which it has struggled to provide a return on this investment". That position, she said, has deteriorated and became critical in recent months as losses mounted.
The Richardsons plant, at the Port of Belfast, processes ammonia from Cork and other imported raw materials such as phosphoric acid and potash to produce NPK compound fertilizers.
Since 1860 Richardsons Fertilizers has been manufacturing and marketing quality fertilizer products in Belfast mainly for the Northern Ireland and Republic of Ireland farmer.
The NPK fertilizer products manufactured in the Belfast factory are marketed as Richardsons Fertilizers in Northern Ireland and as IFI in other markets.
(GMcG)
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31 October 2002
Richardsons staff protest over severance terms
On the day that Richardsons closed down, around half the 206 workers who lost their jobs at the plant travelled down to Dublin to protest over severance terms. Among the employees grievances are the lack of a 90-day consultation period – the announcement of the closure was made two weeks ago – and fears that pension demands will not be met.
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On the day that Richardsons closed down, around half the 206 workers who lost their jobs at the plant travelled down to Dublin to protest over severance terms. Among the employees grievances are the lack of a 90-day consultation period – the announcement of the closure was made two weeks ago – and fears that pension demands will not be met.
31 May 2002
Farren says ‘Ireland means business’
The opportunity for lucrative cross border trade between businesses North and South must be regarded as a priority for companies throughout Ireland, the Minister of Finance & Personnel, Dr Seán Farren, told guests attending a prestigious awards ceremony in Belfast.
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Ministers have welcomed an investment of £22.3 million from Belfast Distillery Company at Crumlin Road Gaol. The investment includes plans to regenerate the A Wing of the Crumlin Road Gaol into the J&J McConnell's Distillery and world-class visitor experience, and to create 49 new jobs.
21 November 2002
IFI representatives to meet with Richardsons workers
North Belfast SDLP assembly member Alban Maginness has welcomed an announcement that representatives of the Irish government and ICI are to meet with workers from Richardsons Fertilisers on Friday.
IFI representatives to meet with Richardsons workers
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All Ireland 'Seedcorn' Business Bid Hots-up
Businesses hoping to be in with a chance of winning their share of a €280,000 cash investment in this year's InterTradeIreland All-Island Seedcorn Business Competition have only got a month left to submit their entries. Liam Nellis, InterTradeIreland Chief Executive, (pictured here) is encouraging local companies to take part.
All Ireland 'Seedcorn' Business Bid Hots-up
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Northern Ireland WeatherToday:A cloudy day with outbreaks of mainly light rain at times, although there may be the odd heavier burst. Driest in the south and east during the afternoon. Moderate southwesterly winds. Maximum temperature 11 °C.Tonight:Staying cloudy throughout the evening and overnight period with a little rain or drizzle at times. Mild overnight with light winds. Minimum temperature 7 °C.