Workers at Waterford Crystal are spending a third night on their sit-in at the Kilbarry plant after being briefed by union representatives this afternoon.
At the meeting, which was addressed by Unite secretary for Ireland Jimmy Kelly and attended by some 700 people, workers were given an update on potential investment from US-based investors KPS Capital Partners and Clarion Capital.
Unite regional organiser Walter Cullen said the KPS offer was now off the table but added Clarion had made another offer for the business, with the potential to save 300 jobs.
As workers prepared to spend a third night at the Kilbarry factory, Government Minister and Waterford TD Martin Cullen said private equity firm Clarion Capital made a substantial offer late last night.
Union officials have backed the bid insisting the plans include keeping manufacturing in the city.
Mr Cullen said: “My understanding is that before midnight last night they’ve [Clarion] lodged a substantial bid for the company and clearly they have a very deep interest in maintaining the plant in Waterford, maintaining manufacturing clearly on the stem line production in Waterford.”
The receiver, David Carson, had been in negotiations with two US-based consortiums — KPS Capital Partners and Clarion.
But Mr Cullen of Unite - which represents around 90 per cent of the workforce - said KPS was interested in the Waterford Crystal brand but not in retaining jobs.
Mr Kelly said they were encouraged, however, by the offer from Clarion, an equity group which involves former Waterford Crystal chief executive John Foley.
“They [Clarion] have lodged their bid and have outlined their plans to us of keeping manufacturing in the city and protecting the immediate livelihood of hundreds of workers and the future prospect for hundreds and thousands more.
“The Government have stood by us with support at this crucial stage and we will stand firm to secure a future for Waterford Crystal here in Waterford City.”
Current and former employees have been protesting inside the factory’s visitors’ centre since Friday when they heard that more than half of the 670-strong workforce were to be made redundant and operations were to halt until a buyer is found.
Union representatives met Government officials and Mr Carson for talks in Dublin yesterday evening, which ended without resolution. Earlier yesterday a crowd of around 2,000 people braved horrendous weather to attend a rally in support of the workers outside the plant.
Workers are occupying the factory on a shift basis and have maintained a presence of more than 100 since they first entered the building on Friday amid scuffles with security guards.
Local shops have been supplying them with food and drink while blankets, while mattresses and sleeping bags have also been brought inside.
Menus have been wiped from the chalk boards in the restaurant and replaced with slogans such as “United we stand: Divided we fall”.
Some 60 workers will remain in the visitor centre tonight and will be joined by more staff tomorrow bringing the number to over 200. The union has encouraged staff due to report for work tomorrow to do so.
Mr Cullen of Unite praised the workers’ spirit. “It shows that this is more than a job, more than a plant . . . it is a community built by generations of Waterford people, and others who have become Waterford people over the years.”
“There is too much life and too much of a future for it to be put to the sword as the receiver attempted to do on Friday and Saturday by announcing the closure of the plant.”
At the Dublin meeting yesterday, the receiver met Ictu David Begg general secretary and officials from Unite. The secretary of the Department of the Taoiseach, Dermot McCarthy, also attended.
In a statement issued afterwards, Mr Carson reaffirmed he had no option but to cease manufacturing in Waterford "given that the monies he had borrowed to continue manufacturing were now spent".