Mr. Seamus Mac Eochaidh:

With regard to the sale of our shares in Arramara Teoranta, Údarás na Gaeltachta took over Arramara Teoranta or was given the shares in it in 2006. Since 1947, it had been a joint venture between the Irish Government and a company called International Specialty Products, ISP Alginates. This company indicated in 2006 that it was going to withdraw from Arramara Teoranta and the market and the Minister for Community, Rural and Gaeltacht Affairs at the time asked údarás to purchase the ISP shares and take over the shares the Minister held. We did that.

On examining the situation, we had to invest money in Arramara but quickly came to the conclusion that we did not have the expertise, the resources or the ability to grow Arramara for the best benefit of the company. Therefore, we set about the process of seeking a strategic partner for Arramara. In 2010, we appointed consultants to advise us on that and this process culminated in March 2013 when the board of Údarás na Gaeltachta decided to sell its shares to Acadian Seaplants Limited. That decision was approved by the Minister with responsibility for the Gaeltacht, in conjunction with the Minister for Public Expenditure and Reform, on 29 July 2013.

Therefore, the answer to Senator O'Sullivan's question is that it was a strategic decision by Údarás na Gaeltachta that it did not have the resources to grow this company to its full extent and so embarked on a process to find a strategic partner who could bring benefit to Arramara, the State and the other stakeholders, such as the harvesters and the Irish customers. The deal that was concluded with Acadian Seaplants Limited embodies those criteria and aims. In regard to the future of SMEs such as Brandon Products and Bio Atlantis, the deal that has been done embodies a future supply to those companies.