A package including around €1,200 per year of service has been agreed.
The factory closed in 2009 with the loss of 700 jobs.
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But 1,700 former employees were left without their entitlements when the company and its pension scheme became insolvent.
Environment Minister Alan Kelly says the workers – including a number from Tipperary – have waited long enough for their money.
The workers will now meet to decide on whether or not to accept the package.
