Friday 20 October 2017

McCreevy on timber firm board

Charlie McCreevy. Photo: Paul O'Driscoll/Bloomberg News
Charlie McCreevy. Photo: Paul O'Driscoll/Bloomberg News
John Mulligan

John Mulligan

A shared love of greyhound racing has seen former finance minister and ex-EU internal markets commissioner Charlie McCreevy join the board of one of Ireland's biggest timber processors.

Based near Clonbur, Co Galway, Earraí Coillte Chonnacht (ECC) exports about 75pc of its €50m in timber sales every year to the UK.

ECC chairman and founder PJ Fahy has known Mr McCreevy for many years through their interest in greyhound racing.

They also co-owned some greyhounds in the past.

Until last year, ECC was two-thirds owned by the Aurivo co-op.

The co-op's brands include Connaught Gold.

It had held the holding since the timber business was founded in 1992, but it was non-core for the agri-group, and sold its stake to the Fahy family.

Speaking to the Irish Independent, ECC MD Daryl Fahy said the group has significant expansion plans, and is currently involved in a €20m investment programme.

He added that the company employs 120 full-time staff, while an additional 180 staff contractors work full-time for the business.

Irish Independent

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