A round-up of today's other stories in brief.
Glanbia to invest £5m in joint venture
Glanbia is expected to invest a further £5 million (€7.3 million) in its Nigerian milk joint venture with PZ Cussons. The company confirmed yesterday that the two firms would develop a second line at the facility to allow for the production of evaporated milk.
A spokeswoman for Glanbia said volumes and sales were both progressing "very well" at the operation.
The firm said in March that the 50/50 joint venture should have annualised sales of $100 million (€78 million) at full production next year.
Icon share offer priced at $63.50
The one million Icon shares being sold by the company's former and current chairmen, Dr Ronan Lambe and Dr John Climax, have been priced at $63.50 (€49.52) each. Icon was trading at $64.80 on the Nasdaq last night.The offering is expected to close on Friday.
Matheson Ormsby Prentice moving
Matheson Ormsby Prentice (MOP) has become the latest of the larger Dublin law firms to take office space in the Grand Canal Docks area. The company has signed for 12,356sq m (133,000sq ft) in Riverside IV, located on the banks of the Liffey.
The firm, which is due to move in next Easter, has taken a 25-year lease with an option to extend for an additional 10 years.
Commercial radio adverts at €100m
The total value of advertising and sponsorship for the commercial radio sector in 2005 was just over €100 million, according to the annual report of the Broadcasting Commission of Ireland (BCI). The BCI said this represented an annual increase of 18.7 per cent.
Island strikes gas off Cork coast
Exploration group Island Oil & Gas said it has made a "significant" gas discovery in the Celtic Sea, at the Old Head of Kinsale, the first in more than 15 years.
Initial indications are that the gas extends over an area of more than 22sq km and may contain volumes of as much as 120 billion cubic feet. The find is located only 25 kilometres from Marathon's existing production facilities at Kinsale, making the site more economical because it can link into existing infrastructure.
Deutsche trading income weakens
Deutsche Bank spooked investors yesterday with unexpectedly weak earnings from trading securities in the second quarter, sparking fears that choppy markets could upset its results this year.
The bank revealed a near €100 million loss from trading on its own account.
The disappointing trading income and a cautious forecast from the bank took the shine off a 30 per cent rise in net profit. - (Reuters)
Eircom bonds 98% subscribed
BCM Ireland Holdings has received tenders for over 98 per cent of the high-yield bonds issued by Eircom under a buyback offer, Australian investment firm Babcock and Brown said yesterday.
South Wharf set to seek buyers
Dublin-listed South Wharf, part of the former Ardagh Glass plc, will begin seeking buyers next month.
Chairman Paul Coulson told its annual general meeting in Dublin yesterday that the company would begin tendering for buyers in September.
The company announced late in June that it had settled all ongoing litigation with Dublin Port.
