Ministers Humphreys welcomes State Aid approval by the EU Commission for Irish cheese producing company
Minister for Business, Enterprise and Innovation, Heather Humphreys TD today welcomed that the European Commission has given State Aid approval for national investment in an Irish cheese producing company, Carbery Food Ingredients Ltd.
The clearance by the European Commission will now be considered by the board of Enterprise Ireland. If approved, the funding will help the company to finance a €65m diversification project to mitigate the impacts of Brexit.
The announcement comes following intensive engagement for a number of months between the Minister and EU Agriculture Commissioner, Phil Hogan, as well as EU Competition Commissioner, Margrethe Vestager.
Minister Humphreys said: “I am delighted to have received this very positive news today following many months of engagement on the case. I met with Commissioner Hogan late last year, who has worked very closely with me to ensure that we got the green light today.
“Supporting market diversification is a key part of the Government’s Brexit response and I would like to commend Carbery Food Ingredients Ltd for standing ready to pursue this important project. The Commission have cleared the proposed investment of up to €5.75m, which would represent almost 9% of the total investment costs of over €60m.
“In my meeting last month with Commissioner Vestager, she reiterated that the Commission stands ready to work with us on State Aid applications in order to mitigate against the impacts of Brexit. This announcement is evidence of that.
“This is a great example of a business making a good case to allow State Aid in extenuating circumstances, the Government presenting it convincingly in Brussels, and the Commission being fair-minded enough to allow it.”