In December 2021, Premier Periclase, a magnesium manufacturing plant in Co Louth, dispatched its lawyer to the High Court seeking bankruptcy protection. At the time the business employed 94 people, owed Bord Gáis around €2.5 million, and announced it was weeks away from insolvency due to “unexpected and extraordinary” price increases in the energy market. Previously owned by Austrian refractory metal supplier RHI, the business was bought by Callista, a German private equity operation, in February 2021. However, it was heavily reliant on gas. And even before the invasion of Ukraine, gas prices had been spiralling. The company had a…

Want to continue reading?

Join today with an Annual membership and get full access to The Currency for just €200 (68c per day) or try monthly membership for just €5 for your first month.

Subscribe

Cancel at any time.

Are you already a member? .