IFI to close with 600 jobs to go

Irish Fertiliser Industries has announced that 600 jobs are to go after the board of the company recommended the liquidation of its three plants in Cork, Arklow and Belfast.

The decision follows weeks of speculation on the future of the company, which had been seeking a State bail-out over its financial difficulties.

IFI had been experiencing increasing problems because fertiliser is more expensive to manufacture here than abroad and had recently met with the Tanaiste to seek a cash injection.

The board in now recommending to shareholders that a liquidator be appointed to all three plants.