AUGHINISH Alumina, the multinational plant on the Shannon estuary established 13 years ago with an investment of £620 million, is now finding it "a challenge to be successful globally".
This view was expressed at the weekend by Ms Cynthia Carroll, managing director of the company, to members of the Junior Chamber Limerick at their international management evening.
Ms Carroll said high electricity costs were one of the factors in Ireland which made it difficult for the company to be successful. "We pay some of the highest prices for energy in the world, relative to our competitors, and we have no options.
She said employee costs were extremely high compared to competitors in Australia Jamaica or India. Other factors included not being located near to raw materials and "producing a commodity product in a global market that is cyclical - and prices today are extremely low".
Aughinish Alumina employs 450 workers and contributes £50 million annually directly into the local economy.
Last year, the company produced 1.2 million tonnes of alumina from 2.5 million tonnes of bauxite imported from Guinea in west Africa.
Mr Peter Power, president of Junior Chamber Limerick, warned that Ireland could "lose out drastically as EML approaches and the European Union expands to the east".
He called on the Government to use its presidency of the EU to protect Irish interests when drafting a new treaty.