Independent TD Carol Nolan believes that Glanbia Cheese staff will not lose their positions in the company following the sale of the mozzarella production brand to the Leprino Foods Company.
The Laois-Offaly TD said that she is expecting the commitments that the company made to its workers to be “honoured as the sale proceeds”.
She stated that while rural Ireland needs the boosts to their local economies that big companies provide, the communities there also need “firm job security”.
The deputy was speaking following the announcement that Glanbia plc have signed a non-binding agreement to sell its share in the cheese production facility, which will be taken over by the world’s largest mozzarella maker, Leprino Foods.
The US-based company will take over the three manufacturing facilities which are located in Llangefni, Wales, Magheralin, Northern Ireland, and Portlaoise, Ireland.
It is understood that Glanbia plc will receive in excess of €160 million for the sale, with the possibility of an additional €25 million over the next three years, depending on the performance of the business.
“I very much welcome the strong wording of the statement issued today in terms of the commitment to continue with the existing team with no disruption to day-to-day operations,” said Deputy Nolan.
“It is vital that the position of this facility is maintained and strengthened given that it has the capacity to use the equivalent of over 360 million litres of milk per year.
“This clearly indicates its value to the Irish dairy sector,” she added.
“I have been contacted by the company today about this deal and I will certainly be maintaining a close relationship to ensure that the objectives we all want to see in terms of rural jobs and rural economic growth are protected,” concluded the deputy.
Glanbia plc has also published its preliminary financial results for the year ending December 31, 2022, which show that revenues last year topped €5.6 billion, 21.2% higher than 2021’s figure of €4.2 billion.
The global nutrition company’s profit after tax grew to €256.8 million last year from €167.4 million in 2021, and its board has recommended a financial dividend of 19.2c/share.