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Carthy welcomes naming of Elverys management as preferred investor in company

Sinn Fein's Matt Carthy canvassing in Letterkenny.

Sinn Fein’s Matt Carthy canvassing in Letterkenny.

SINN Féin’s EU candidate for the Midlands Northwest, Matt Carthy, has welcomed the news that Elverys management team have been named as the favoured investor into the company by examiner Simon Coyle.

Carthy said he hoped the agreement protected workers’ jobs and the future of the firm, which has an outlet in Letterkenny.

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Cllr Carthy said: “I and Sinn Féin welcome the announcement by the NAMA appointed examiner today that the management consortia bid for Elverys loans has been successful and beaten off stiff competition. The news is really positive for workers and the company

“This shows the importance of NAMA not fire-selling loans, especially where jobs are concerned. Sometimes other factors have to be taken into account and only careful analysis and planning can ensure this.

“NAMA’s remit is to get maximum value for the taxpayer, but that value can include wider economic impact. Hopefully all of Elverys staff and suppliers will be protected by this management bid and the company will continue to be successful.

“This is a good news story for Elverys, NAMA and the economy.”

Cllr Gerry McMonagle said the incident occurred in the very early hours of Sunday morning last.

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