A speedboat factory which closed in October with the loss of more than 100 jobs may re-open under new owners in 1998, creating some 70 jobs in Cork. American-owned Sea Ray Boats Inc, which made luxury speedboats at a plant at Little Island in Cork, is in discussions with a Finnish consortium interested in establishing a boat-building project at the site.
A spokesman for IDA Ireland said the talks between the two sides were continuing and a deal had yet to be finalised.
Discussions were ongoing in terms of the financing and the structure of the agreement, he said.
The spokesman would not comment on the identity of the members of the consortium, ahead of the discussions being finalised.
The Little Island site is for sale in three lots, including the factory and harbour area and the surrounding land, which is divided into two lots.
Sea Ray Boats Inc is part of US consumer products group Brunswick Corp which manufactures a range of equipment for the fishing, camping, biking, bowling, boating and fitness industries.
Brunswick announced in September that it was closing the Irish boat manufacturing plant, which employed 140 at its peak.
The closure came as part of a general streamlining of its operations to cut costs.
Sea Ray Boats is based in Knoxville, Tennessee and has been making pleasure boats since 1959. Its other manufacturing plants are located in the US - in Florida, Tennessee and Arizona.
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