Trade union officials have been addressed a meeting of around 700 Waterford Crystal employees and former staff on developments regarding the company's future.

A senior official with the trade union UNITE, Walter Cullen, said that one of the two potential buyers for Waterford Crystal is no longer interested in maintaining jobs in Waterford.

He said he has been told by the receiver the proposal that New York-based private equity firm KPS had put forward is only related to keeping the crystal brand and not the jobs at Waterford

Mr Cullen also said the other company interested in purchasing the company - Clarion Investments - has now made another bid.

Speaking on RTÉ’s This Week, Minister for Arts, Sport & Tourism, Martin Cullen, said the Clarion consortium last night lodged a bid for the company.

He said the Government wants to maintain the Waterford brand in Ireland and stands ready through the state agencies to invest in the company.

The occupation of the visitor centre and factory in Kilbarry is continuing with 60 workers expected to remain overnight. They will be joined by colleagues tomorrow to bring the number to over 200.

Workers are protesting at the decision by the receiver to stop manufacturing and make 480 staff redundant.