Press in talks with UK group

A BRITISH printing press refurbishment company is in negotiations with Irish Press plc concerning the relaunch of the Irish Press titles.

The company, Printing Press Services International, which is based in Preston, has been in talks with Dr Eamon de Valera and Mr Vincent Jennings for a number of months.

Last month, Irish Press plc management announced it was in talks with a unnamed company and that it was confident the talks would lead to printing facilities being available. It was stated at the time that the company would wish to relaunch the Sunday Press first, followed by the Evening Press.

While the Irish Press could well have secured printing facilities it is still in need of equity capital from other investors. So far the company has been unsuccessful. At one time, a number of groups indicated interest in investing in Irish Press, but it is believed they had problems with the continued involvement of Irish Press plc and Independent Newspapers.

Irish Press Publications, the company that owns the titles, is 24.9 per cent owned by Independent Newspapers, which has been precluded by the Minister for Enterprise and Employment, Mr Richard Bruton, from increasing its stake.

A plan to relaunch the Sunday Press collapsed late last year, when Independent Newspapers failed to agree with the financial plan.

Management at Irish Press plc has always maintained that it plans to relaunch the newspaper titles, which were liquidated last summer. The three newspapers were last on the streets 15 months ago.

At the time of closing the Sunday Press had a circulation of 154,121 the Irish Press, 38,889 and the Evening Press, 52,590. The circulation figures had been falling dramatically for some years.

Yesterday, Irish Press plc refused to comment on its plans.