23rd May 2002

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Louth TD calls on Department of Trade and Industry to intervene to save jobs

Sinn Fein Louth TD Arthur Morgan has called on the Department of Trade and Enterprise to intervene to assist in saving more than 100 jobs at the Thermal Heat Exchanges company in Drogheda. Mr. Morgan made his call following a meeting with the General Manager after it was announced that the company was going into receivership.

Mr. Morgan said:

``Following a meeting I held today with the general manager of Thermal Heat Exchanges I am confident that if the Department of Trade and Enterprise intervenes they can prevent more than 100 jobs being lost

``At the moment the company has over 1 million euros worth of orders on their books however it has hit difficulties because it owes creditors over 3 million euros.

``There is obviously a demand for the companies products and services. I will be seeking a meeting with the Department of Trade and Enterprise to ask them to assist in the restructuring of the company to ensure the viability of the 100 jobs.''

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