BMD is bought out by management
THERE has been a management buyout of Cork-based engineering company BMD, which was formerly part of the Bowen Group. The new owners of BMD are five members of the management team -- John Allen, Paul Keegan, Nicholas Lynch, Frank O'Keeffe and managing director Mike Walsh.
Gastro-tourism is 'boosting revenues'
THE celebrated Irish chef who cooked for Queen Elizabeth II this year said yesterday that gastro-tourism has contributed to an increase in revenues at his Chapter One restaurant in 2011. Ross Lewis is chef patron at the Michelin-starred restaurant on Dublin's Parnell Square and he said yesterday that the restaurant recorded "a marginal profit" in the 12 months to the end of February last.
Alkermes approves $1bn Elan deal
SHAREHOLDERS at US-based pharmaceutical group Alkermes have overwhelmingly approved a $1bn (€717m) acquisition of Elan's drug technology (EDT) unit following a vote yesterday. The deal will see Alkermes pay $960m for the drug technology business, while Elan will retain a 25pc stake in Alkermes plc. That firm, which will float on the Nasdaq but be domiciled in Ireland, will represent the combination of Alkermes's existing operations and the EDT unit.