Funds to be generated to pay-off IFI workers

Funds are being generated to pay-off redundant workers after the closure of the IFI plant.

The Minister for Trade and Commerce, Michael Ahern, says all statutory payments owed to the workers will be paid in full.

The value of these entitlements is estimated at about €11m.

When combined with the €24m being provided by shareholders, this brings the total funds available to pay the workers at €35m.