A round-up of today's other stories in brief.
Kerry Group chiefs increase shareholdings
Three Kerry Group directors have spent €258,000 between them on shares in the company. Hugh Friel, Kerry's chief executive, and the firm's chief financial officer Brian Mehigan each paid €86,000 for 5,000 shares at €17.20 each. Kevin Kelly, a non-executive director, bought 5,700 shares at €17.30, paying a total of €98,610. Shares in Kerry closed at €17.60 last night, up 35 cent.
Greyhound firm in €20m venture
Waste management company Greyhound Recycling and Recovery has announced a €20 million joint venture to supply Irish developed biofuel technology to two major business partners in China.
The deal will supply alternative fuel and power sources to Shuzhou, a major industrialised zone, west of Shanghai and Guangzhou, the most powerful industrial province in China.
As part of the deal, Greyhound will supply the Chinese market with the technology to develop both biodiesel and refuse derived fuel. Through its work with Queen's University, it has produced high-quality biodiesel from recycled used cooking oil.
Announcing the deal yesterday, Greyhound director, Brian Buckley, said it was a great endorsement of the work it is carrying out with Queen's University. "The Chinese have recognised the potential of these technologies to address the very real problem of fuel shortages in China and in fact are putting Ireland to shame in their adoption of alternatives to traditional fossil fuels," he said.
Airline to launch Irish subsidiary
Excel Airways, which operates charter flights in the UK, has announced a new wholly-owned Irish subsidiary. The new operation, which will operate under the Excel brand, provide short, medium and long-haul charter services for Irish tour operators and travel retailers starting in the May to October 2007 holiday season.
It will target routes from Ireland to Florida, Spain, the Balearics, Canary Islands, Portugal, Greece, Bulgaria, Turkey, Cyprus and Egypt. In its first year of operation the company expects to carry more than 65,000 passengers.
The Irish company will be headed by managing director Bill Smith and commercial director Carol Anne O'Neill.
Excel Airways is part of the Iceland-listed Avion Group. It has 17 aircraft and flies to over 50 European destinations.
Energia signs nationwide deal
Energia, Viridian's energy supplier, has signed a new nationwide power supply agreement with the Irish Retail Newsagents Association (IRNA), the representative body of retailers and newsagents. The agreement will result in savings of up to 10 per cent for IRNA's 1,500 members, claimed Energia.
The contract is worth up to €7 million if all members avail of the deal with Energia.
So far, over 200 IRNA members have signed up with Energia.
ThirdForce sales set to increase
Online learning group ThirdForce held its annual general meeting in Dublin yesterday. The company is forecasting a pick-up in sales this year, but chief executive Brendan O'Sullivan said ongoing investment will continue to depress profits.
Thirdforce has said that revenue will likely increase by 50 per cent. It reported a 5 per cent increase in revenue for 2005 to €12.6 million.
