Oireachtas Joint and Select Committees

Thursday, 31 January 2013

Public Accounts Committee

Enterprise Ireland - Annual Report and Financial Statement 2011

12:10 pm

Mr. Frank Ryan:

I am very aware that all of the companies involved continue to trade and will approach the question in that light. The power of the multiples, particularly in the British Isles and the Republic of Ireland, is very strong. As there are so few, there is very strong buyer power in the marketplace. If one looks at the food sector, in particular, it depends on the individual company. Many of our food and drink companies are exporting well beyond the British Isles and the market is very competitive. So far the beef sector in Ireland has been able to be competitive and secure contracts. We hope that will remain the position. The food industry is unusual in Ireland in that it is integrated right back to farmers. There is a significant societal impact associated with what happens in the industry. We are certainly working with a number of food companies on lean manufacturing and world class manufacturing standards to maintain their competitiveness.

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