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Coillte sells stake in Coillte Griffner

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  • 29-05-2007 10:29pm
    #1
    ircoha
    Closed Accounts Posts: 2,290 ✭✭✭


    FYI:
    http://www.rte.ie/business/2007/0529/Coillte.html

    Coillte sells stake in Austrian venture
    Tuesday, 29 May 2007 17:42
    The state forestry company, Coillte, has sold its share in its Austrian joint venture, which will result in the loss of 32 jobs.

    Coillte's 70% stake in Griffner Coillte, which designs and manufactures buildings made from timber, was sold to the other partner in the venture, GriffnerHaus.

    Financial details of the transaction are not being disclosed.

    Advertisement Sales and construction will be maintained in Ireland while manufacturing will be relocated to the GriffnerHaus plant in Austria.

    This will result in 32 redundancies at the company, with staff numbers are reduced to 9, a statement said today.

    The company will now enter into the statutory consultation with staff in relation to redundancy arrangements, it said.

    Under the terms of the deal, the Austrian company will acquire 100% ownership of the business and will continue to serve its Irish customers under the new name of GriffnerHaus Ireland.

    Gerry Britchfield, MD of Coillte Enterprise said: "We have been conducting a strategic review of all our businesses and took the decision that the manufacture and construction of timber frame houses is not a core part of the future of Coillte'


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    #2
    galwaytt
    Registered Users Posts: 12,776 ✭✭✭✭galwaytt


    ...an inevitability, given the prices they were charging............

    I suppose Ml McDowell's one got finished, then............??

    Ode To The Motorist

    “And my existence, while grotesque and incomprehensible to you, generates funds to the exchequer. You don't want to acknowledge that as truth because, deep down in places you don't talk about at the Green Party, you want me on that road, you need me on that road. We use words like freedom, enjoyment, sport and community. We use these words as the backbone of a life spent instilling those values in our families and loved ones. You use them as a punch line. I have neither the time nor the inclination to explain myself to a man who rises and sleeps under the tax revenue and the very freedom to spend it that I provide, and then questions the manner in which I provide it. I would rather you just said "thank you" and went on your way. Otherwise I suggest you pick up a bus pass and get the ********* ********* off the road” 



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    #3
    muffler
    Registered Users Posts: 46,108 ✭✭✭✭muffler


    This has absolutely nothing to do with this forum.

    Locked until I find somewhere to put it


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    #4
    Mellor
    Registered Users Posts: 39,364 ✭✭✭✭Mellor


    Manufacturing has moved to the austrian plant, I imagine this would increase the prices for irish buildings from these lads even further. Practically have to pay for a house to be shipped frm austria. I expect they'll pull out in 6 months


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