Malting business sale threat to Guinness

GREENCORE has been condemned as an asset-stripping “pack of vultures” by Fianna Fáil TD Seán Fleming, as the food group continued negotiations to sell its malting business to Soufflet Group of France.

He told the Dáil that Soufflet will be the biggest malt processor in Europe and perhaps the world if it adds its 1.5 million tonnes of malting barley capacity to Greencore Malt’s assets in Ireland, Belgium, and Britain, which handle 500,000 tonnes.

He said the deal could threaten 1,500 Irish farms where 130,000 tonnes of malting barley per year has been grown for generations. Deputy Fleming, who represents the Laois-Offaly constituency, was concerned at reports that the malting plant in Athy and depots in Stradbally and Emo in Co Laois could close.