Mick Wallace (Wexford, Independent)
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486. To ask the Minister for Agriculture, Food and the Marine his views on the number of contracts his Department and State agencies under his aegis hold with a company (details supplied) in view of its recent announcement regarding the need to raise an emergency €700 million; if contingency plans are in place if the company were to collapse; and if he will make a statement on the matter. [21666/18]

Michael Creed (Cork North West, Fine Gael)
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Details of the outsourced services provided by the company to my Department were furnished to the Deputy in a response to a recent parliamentary question (Ref PQ 2309/2018).

The company has assured my Department that it is a viable operation on the basis of a number of actions taken to strengthen the balance sheet, reduce debt, increase the efficiency of the business and invest for the future. In this regard it launched a Rights Issue earlier in the year to raise approximately €700 million to reduce leverage and to fund investment over the coming years. The company has a strong management team in place with significant experience in delivering a high quality service to the Department.

As regards the twelve State Bodies under the aegis of my Department, the information requested is an operational matter for the State Bodies themselves. I have referred the Deputy’s question to the Agencies and have requested that a response should issue within 10 days.

My Department is currently examining approaches to development of contingency arrangements for these outsourced services.