Courts / Louth / Report
Plan to switch world-leading firm to renewables would see most of workforce redundant, court hears
Summary
In April 2022 the High Court heard a proposal for Premier Periclase Ltd, a world‑leading magnesium products manufacturer, to switch from natural gas to renewable energy. The switch would require 18 months of work and would make most of the company's 94 employees redundant, though the court noted that after completion the firm might employ more people. Premier Periclase, which had been granted court protection in December 2021, owes €2.5 million to Bord Gais and €900,000 to electricity supplier Energia. Mr Neil Hughes, appointed examiner, was granted additional time to formulate a scheme that could save the business. The court also heard that a potential investor had withdrawn, but other investors remained interested in a renewable‑energy plan. The matter will return to the court later this month.
Who, what, where, when and why
What: Report matter: Plan to switch world-leading firm to renewables would see most of workforce redundant, court hears. Procedural stage: hearing_or_decision
When:
- 2022-04-08 Publication
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