Clare designer of Chilean mine drill doubles profits

A family-owned engineering firm in Shannon has reaped the dividend of designing and producing the drill that led to the rescue…

A family-owned engineering firm in Shannon has reaped the dividend of designing and producing the drill that led to the rescue of 33 Chilean miners two years ago. New figures show that pre-tax profits at the Shannon- based Mincon International almost doubled from €2.6 million to €5 million in 2010.

Accounts just filed show the Co Clare firm awarded shareholders a €6 million dividend in 2010. Shareholders – mainly from the Purcell family – received another €6 million in dividends in 2009. Mincon received global publicity when its Shannon-designed MX5053 drill broke through the cavity where the miners had been trapped for 69 days.