It looks like the sale of Irish Fertilizer Industries will go ahead. Mary Harney, the Minister responsible, may have been given pause for thought this week by headlines, suggesting a threat to the more than 630 jobs in Arklow, Cork and Belfast. Next week the Tanaiste and her officials will meet the unions and will give as much reassurance as possible on the jobs front.
However, no absolute guarantees can be given and some rationalisation by the new buyer cannot be ruled out. The unions will know that a sale of the group is the only option, with 49 per cent shareholder ICI having already disposed of all its other fertilizer interests worldwide and no buyer likely to be interested in picking up its stake and leaving the State with the rest. ICI has agreed to a joint sale and proposals from corporate finance advisers are due before Government this week. IAWS has already expressed an interest, while the advisers will also be trying to drum up interest overseas from the likes of the big US group Terra which bought ICI's British interests last year.
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