Files search finds no signs of political representation

A preliminary investigation of files concerning State support to the company which made a £30,000 payment to Mr Ray Burke has found no evidence of political representation on the firm's behalf.

The review, which had been requested by the Tanaiste, Ms Harney, on Thursday night and was completed yesterday evening, found that Rennicks Ltd has been approved for a total of £2.5 million in grants and other support since 1985.

But there is no evidence in the files of political representation on behalf of Rennicks or Toptech Ltd, a company it acquired in 1995, according to the chief executive of Forbairt, Mr Dan Flinter. His inquiries included discussions with relevant executives in the IDA and Forbairt, none of whom recalled any verbal representations either.

However, Mr Flinter told the Tanaiste that a review of archival material stored for safe keeping outside Forbairt's offices was continuing. He said a review of dealings between State agencies and other related companies was now under way.

The main State investments in Rennicks were: £247,000 in 1985; £240,000 in 1988; £817,000 (including £361,000 in preference shares) in 1993; and £1 million (including £500,000 in preference shares) in 1995; all for expansion of its signage and contract moulding business.

Since the acquisition of Toptech in 1995, a further £871,000 (including £330,000 in preference shares) had been approved for restructuring and expanding the company, which manufactures electromagnetic shielding. Rennicks has created 200 jobs since 1985, the review found, accounting for 66 per cent of its jobs target. By comparison, 70 per cent of the approved money for it has been disbursed.

Mr Flinter confirmed that Forbairt had been ordered to provide information to the Flood tribunal, and was co-operating fully with the request.