Periodic Holdings Ltd, a company with a subsidiary in metal recycling and hot dip galvanising manufacture, is the new owner of the “glass factory” plant in Dungarvan, Co Waterford.
The 15-acre site, in receivership, was purchased by one of the Limerick company’s subsidiaries Zinc Properties Ltd.
The company indicated it has plans to create up to 40 jobs at the site in the future.
Anthony Donlan, a director of Zinc Properties, said the plant’s future purpose was still undecided. “We have no major plans at present. Our big concern at the moment is making the site user-friendly and environmental-friendly with a view to creating jobs eventually.”
He said ground contamination caused by the plant’s previous usage requires a two-year monitoring span.
An associated company, United Metals, is currently cleaning and securing the derelict site.
“The area has been left redundant for the last number of years so our priority at the moment is to make the site as user-friendly as possible.
“Over the next three to six months we would hope to have the site up to speed,” Mr Donlan said.
He acknowledged the former Waterford Crystal factory, which employed almost 500 people before closing in 2005, holds a lot of sentimental value for many locals.
“You can see on the front crest of the building it was opened by the ex-taoiseach Jack Lynch. I know, from speaking to people locally, they would love to see it back in operation and they’re all behind us.
“The people living close to the site seem very impressed with what we’ve done to date, and they have been very helpful and very active in hoping it will go to the benefit of the local economy which it will,” he added.
“Our plan is to generate work locally and we do have plans to expand our Limerick company into the southeast eventually. It’s all about jobs and creating work and positivity in the south-east.”
Dungarvan-Lismore area councillor Tom Cronin (FF) said: “As a local councillor you couldn’t but praise the news and wish the new company the very best of luck going forward.
“At the same time, it does mark the end of an era. When the glass factory closed down it hit the town very hard but, thank God, there is something new going in there now and hopefully the company will build it up to more than 40 jobs in the future,” he added.