Investor to rescue packaging company

The future employment of 170 people at Ire-Tex, the cash-strapped Irish packaging company, may be secured.

10th March, 2007

The future employment of 170 people at Ire-Tex, the cash-strapped Irish packaging company, may be secured. Last week, an outside investor told the High Court he was willing to rescue the company.

Ire-Tex, which has three plants in Ireland, went into examinership at the end of January after running up multimillion debts. The company has already laid off 70 of its 250-strong workforce, but is hoping to secure the remaining 170 jobs.

The court was told that the...

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