Wednesday 21 March 2018

Siteserv opens in Northern Ireland

INFRASTRUCTURE and utilities support services group Siteserv officially launched its operations in Northern Ireland yesterday.

Siteserv currently employs 200 people at its base in Belfast Harbour Estate, and is planning to expand its operations next year. Siteserv Northern Ireland chairman Ronnie Foreman said: "We plan to build on the strong Northern presence forged by our subsidiary Sierra and engage with a wide range of new partners in 2013.

"We are an ambitious and fast-growing company and our expansion in Northern Ireland is part of the company's wider strategy to diversify into new geographies and business areas."

New businesses lack state support

THE Government risks missing out on a substantial economic dividend from a generation of homegrown Irish business success stories because there is no clear national policy to support entrepreneurs and expand businesses to scale, Irish Stock Exchange boss Deirdre Somers warned yesterday.

"We should be aiming for the growth of at least five to 10 companies with a market capitalisation over €1bn in the next 10 years," she added.

Ormonde makes headway in Spain

ORMONDE Mining said "significant progress" had been made over funding for its Barruecopardo tungsten project in Spain, with the permitting process also going well.

Debt-funding talks have now reached the term-sheets stage with a number of financial institutions, the Irish mining company added.

DCC winner of accounts award

DCC was the overall winner of this year's Published Accounts Awards, which were announced in Dublin yesterday. Some 24 Irish companies, not-for-profit organisations and charities competed as finalists.

Category winners were Aer Lingus and CPL Resources. Magna Financial was also presented with a winner's award along with CRH, which took the corporate social responsibility award for the second year running.

Fastnet raises £15m for Morocco

FASTNET Oil & Gas said it raised £15m (€18.5m) through a share placing to fund a drill programme in Morocco.

The Dublin and London-listed company said it is issuing 68 million new shares at 22p each. The money will be used to drill off Morocco and fund Celtic Sea activities.

Port traffic stable in third quarter

The volume of port and shipping traffic through Irish ports remained stable during the third quarter of the year, according to the Irish Maritime Development Office.

Container traffic declined 2pc, with containerised exports falling 3pc – the second quarterly fall in a row.

Irish Independent

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