Card Technology International Ltd, Purcellsinch, Kilkenny-based plastic and Smart Card manufacturer, went in to receivership just before Christmas. The company began trading only one year ago with a start-up grant from the Industrial Development Authority, to manufacture plastic credit cards. The start-up company’s aim was to get in to the Smart Card business, but it found the competition from existing manufacturers too great to get a foot-hold. Ownership of the premises has reverted back to the Development Authority and the company is now officially in receivership, which is being handled by Price Waterhouse in Dublin. Card Technology’s assets, the printing and finishing equipment, have been put up for sale, and the Development Authority is attempting to find a buyer for the premises. A Price Waterhouse spokesman said it would try to work with the Authority on the sale, but so far there has been no sign of a prospective purchaser for the business. If this continues to be the case, the assets and premises will likely be sold off individually. Card had promised 120 jobs in the first year but in fact employed 40.
