'Agreement reached' over SRT

THE IDA and investors “have agreed terms” for the takeover of SR Technics, but the owners are refusing to pay staff for the next two weeks while due diligence on the company is carried out, the Dáil was told.

Labour transport spokesman Tommy Broughan said the jobs were “on a knife-edge” at the north Dublin plant and appealed for Government intervention.

Minister for Transport Noel Demspey said the Government and its agencies were doing everything in their power to assist the company and save jobs and would continue to do so.

During Transport questions Mr Broughan said he had just heard an agreement had been reached.

“We understand that the IDA and investors have now agreed terms for the takeover of SR Techics, but these new owners would need two weeks for due diligence. SRT would have to pay the staff for those two weeks and SRT are refusing to do this at the moment,” he said.

Earlier there were heated exchanges when the Labour TD demanded that Mr Dempsey withdraw a remark that he was a “liar”.

Mr Broughan said “I repeated information given to me by the Minister’s agencies to the effect that his department knew in November about the closure of SR Technics”. Mr Dempsey insisted this was not the case. Mr Broughan then described the Minister as a “bare-faced liar” but withdrew the remark.