€10.2m deficit in ICI Ireland pension funds

Conor Keane, Business Correspondent

The accounts filled under the name of ICI Ireland Limited and Subsidiaries show that the total market value of the pension schemes' assets was €20m as of December 31, 2002, down from €25.7m a year earlier.

However, the value of the schemes' liabilities rose to €30.2m in 2002 from €25.3m in 2001, leaving a €10.2 million deficit at the end of 2002.