Remarks by Minister Martin at the official opening of the Myson Control’s new factory in Newcastlewest, on Thursday September 7^th 2006.

Thank you for inviting me today on this wonderful occasion. I would like to start by congratulating and acknowledging the great work of the managers and employees of Myson Heating, the IDA, Shannon Development and local representatives. This re-opening is a testament of your commitment to the company and the locality.

Myson is one of the longest established multinational companies in Ireland having been established in Newcastlewest in 1969.

I recall very well the fire on the 10^th of July 2005 at the premises here in Newcastlewest, which destroyed the inventory, production equipment and tooling, resulting in a total loss of production at the plant and a serious threat to employment for the workforce.

Despite the damage, some key production equipment and machinery was salvaged from the building and restored to full working order. Following inspection it was recommended that for safety reasons this facility be demolished and replaced.

Both IDA Ireland and Shannon Development sought to support the operation in whatever capacity possible including finding a temporary building solution for the company and accessing spare manufacturing capacity from metal turned parts suppliers in Ireland.

I was delighted that Shannon Development was able to facilitate Myson Controls at short notice, by making available a 19,000 sq ft premises at its industrial estate at Gortboy, Newcastlewest. I understand that, at the time, Shannon Development had plans to redevelop the property, in partnership with a private sector developer, but, with the agreement of the developer, these plans were postponed for 18 months to allow the factory unit to be leased on a temporary basis to Myson Controls to give them time to rebuild their own premises. I congratulate Shannon Development on moving quickly to provide a property solution that enabled Myson Controls Ltd get back into production and secure over 100 jobs in West Limerick.

Last September I met with a number of local TD’s, Counsellors, IDA Ireland and senior management from Myson Ireland as part of a request by the local representatives and management to secure state funding for the re-development of the plant which was under threat. Due to restrictions in the existing legislation governing State aids and supports its was advised that the State was unable to provide such direct funding for the re-development of the factory.

Despite the issues outlined and following from the considerable efforts of Dan Staal - Divisional President, local management and employees, the Board of OY Rettig AB, agreed to the re-building and re-equipment of the Newcastlewest operation. The company moved in to the new factory during July 2006, only eight months since tender and building commenced.

Prior to the agreement by the OY Rettig Board to re-build the Limerick operation, IDA Ireland held a number of meetings with Myson management and outlined a number of avenues for support under training, research and development, financial restructuring and group tax based financial modelling.

Currently IDA Ireland, who have a strong and supportive relationship with Myson, is evaluating a number of training grant support proposals and helping the company develop new project proposals for funding through IDA Ireland’s research and development programmes as part of an effort to help increase competitiveness and expand R&D activities in the Newcastlewest plant.

I will conclude by again congratulating all involved for their persistent commitment and hard work, which allowed production to continue within a short time, and secured the future of 105 jobs.