IFI unions to discuss company's collapse

Unions representing the IFI workforce are due to meet in Dublin today to discuss the fallout from the company's collapse.

Yesterday, IFI announced plans to close its plants in Cork, Arklow and Belfast with the loss of 620 jobs.

The Government, which owns 51% of the company, had refused to invest any more money in the firm.

Redundancy packages have yet to be negotiated, but SIPTU said it has received assurances that the workers will receive a generous deal.

Spokesman Noel Dowling said: "My understanding is that IFI would not have the wherewithal to discharge more than its statutory obligations, but we've already raised that question with the Tánaiste.

"She has assured us that the shareholders would be putting together a fund which would ensure a fair severance package for our members."